Carbon Farming Initiative meets Parliament, shakes hands and says hello
Occasionally when you first meet someone, you know instantly that you’re going to get on well. They have kind eyes, make you feel at ease and say just the right thing. We hope Parliament felt this way when they shook hands and said hello to the Carbon Farming Initiative (nicknamed CFI) who’s legislation was introduced this morning.
If the CFI were indeed a person, it would have the following endearing personality traits:
- Pragmatic - it will enhance farm productivity and reduce the effects of climate change regardless of whether or not Australia has a price on carbon.
- Charismatic – currently there is no scheme in Australia, (except the NSW Greenhouse Gas Reduction Scheme), that provides accredited carbon offsets. The CFI is a world first. That’s pretty exciting.
- Reliable – it ensures the carbon offsets that businesses and individuals buy are legitimate and have real environmental benefits. The CFI establishes a robust system that requires carbon claims be substantiated and well grounded in science.
- Meticulous – Programs that create carbon credits have to go through a strict process to ensure they comply with the rigorous CFI criteria. That way, when a person or company buys carbon offsets, there is confidence that the carbon has in fact been removed from the atmosphere. You can be sure the activity has taken place.
Our CEO Andrew Grant summed it up nicely when he said: ”It is good for the environment, it is financially beneficial for farmers, and it’s a big step in encouraging investment that repairs land degradation. The CFI provides a set of rules that is an Australian first for the creation of carbon offsets across many forms of agriculture, forestry and other industries.
“We know of examples overseas where fake carbon offsets are being sold,” he said. “The CFI prevents people investing in scams.”
Read CO2 Group’s press release on today’s announcement here.