$125 Million Investment in Farms of the Future

Image Credit: University of Sydney.

To help ensure the prosperity of NSW’s primary industries and land sector, the NSW Government is investing $125 million over the next 8 years to 2030. This will support farmers and land managers across the State to reduce their emissions, improve their carbon management, and enhance biodiversity on their land alongside production.

It will also support the sector to increase revenue by accessing environmental markets, accelerating finance for natural capital and low carbon farming, and demonstrating environmental performance to consumers and the supply chain.

The Primary Industries Productivity and Abatement Program has three focus areas:

  1. $52 million to develop market and industry foundations, including trusted and transparent data, metrics and frameworks to assess carbon and biodiversity outcomes;
  2. $72 million to build critical mass and capacity, including incentives for land managers to reduce emissions at scale; and
  3. $1 million for accelerating finance for natural capital and low carbon farming, by working with the finance sector to increase investments in natural capital and low carbon farming.

The Program will invest in improving carbon management on farm land, public land and Aboriginal-managed lands across the State.

Treasurer and Minister for Energy Matt Kean said primary producers and land managers are playing an important role in helping NSW achieve its goal of reducing emissions by 50 per cent by 2030 and achieving net zero by 2050.

Minister for Agriculture and Western NSW Dugald Saunders said the program is all about building economic resilience and creating jobs in regional communities, by encouraging sustainable farming practices through grants programs and partnerships with financial institutions.

Minister for the Environment James Griffin said the funding will allow primary producers and land managers to develop new revenue streams through carbon markets while also achieving biodiversity and natural capital benefits for NSW.

For more information about the Program, please click HERE.

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