Queensland farmers have been provided an opportunity to recognise, value and monetise the critical actions they undertake to integrate sustainable practices and provide clean water to the Great Barrier Reef through a world-first Reef Credit Scheme.
Developed by Australia’s leading environmental market developer and investor GreenCollar, the Reef Credit Scheme received its first public and private sector investment this week from HSBC Australia and the Queensland Government.
Queensland Farmers’ Federation (QFF) CEO Dr Georgina Davis welcomed the announcement of the first puchase of Reef Credits which will support Tully River Catchment cane farmer Jamie Dore to implement sustainable on-farm practices that will result in improved water quality outcomes.
“The Reef is one of the most spectacular and complex natural systems on earth and agriculture has been, and remains, committed to doing its bit to ensure to the longevity and prosperity of the environment and our sector,” Dr Davis said.
“Collaborative partnerships such as the Reef Credit Scheme working in conjunction with agriculture industry Best Management Practice (BMP) programs, have seen an exponential increase in farmer participation.”
“With support through the Reef Credit Scheme, farmers can continue to make meaningful practice change and achieve the best environmental, social and economic outcomes for the Reef, Reef catchment communities and for their own farm.”