THE State Government is investing an additional $3 million to support farmers to develop “natural capital” projects.
The funding will extend the Government’s Natural Capital Support Services program for another year, which provides tailored advice and support for landholders to explore natural capital and environmental market opportunities.
In farming, natural capital refers to the stock of natural resources – like soil, water, plants, animals, and ecosystems – that farmers rely on to produce food, fibre, and other goods.
By investing in natural capital farmers may be able to access environmental markets and apply for biodiversity credits to generate a potential income from these projects.
The program aims to provide farmers with opportunities to increase production while diversifying income streams.
“The NSW Government is committed to working with farmers to futureproof their operations while protecting the environment during a time of rapid change,” Minister for Agriculture Tara Moriarty said.
“Carbon farming initiatives can be rewarding in more ways than one for both the landholder and the environment, but we recognise these projects can require a significant investment of time and resources.”
In the past year almost 1,500 landholders and farmers have engaged with the NSW Government’s 13 Natural Capital Advisors to raise awareness of the opportunities natural capital projects present.
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