Primary producers in the Cootamundra electorate could benefit from the NSW Government’s $125 million investment in the Primary Industries Productivity and Abatement Program to drive sustainable land management, boost productivity and help reduce emissions.
Member for Cootamundra Steph Cooke said this announcement is great news for the region as it will create new opportunities for farmers and enable them to be directly involved in the lower carbon economy.
“The NSW Government has recognised Regional NSW is the engine room of the State and primary producers are key to pumping more than $13 billion into the NSW economy each year,” Ms Cooke said.
The Primary Industries Productivity and Abatement Program has three focus areas:
- $52 million to develop market and industry foundations, including trusted and transparent data, metrics and frameworks to assess carbon and biodiversity outcomes;
- $72 million to build critical mass and capacity, including incentives for land managers to reduce emissions at scale; and
- $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.
More info on the program: www.energysaver.nsw.gov.au/netzeroland