Victorian farmers might be able to sell credits to private investors for replanting bushland, improving riverbanks or a slew other environmental improvements under the State Government plan to tap a potential $3 billion a year market in ecological credits.
The Australian Financial Review reports that the government's white paper flags ramping up market-based programs such as BushBroker, whereby land clearers pay farmers to plan to retain stands of forest in order to improve land health.
"With studies showing Australian farmers could reap an extra $3 billion from new ecological services markets - including carbon markets - we need to ensure our primary producers are ready to get their share of this opportunity," Environment Minister Gavin Jennings said.
The government has run a trial of a broader system, known as EcoTrader, allowing farmers to generate credits from initiatives beyond tree planting such as improving salinity or pest control.
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