Track 3-03: Managing the Policies, Trade-Offs and Incentives for Grasslands

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Increasing soil organic carbon (SOC) has potential to offset greenhouse gas emissions, but the scope for on-farm carbon sequestration is poorly understood. A pilot scheme was developed in Central West NSW, Australia to trial the use of a market-based instrument to encourage farmers to increase soil organic carbon levels. The pilot considered the relationship between land use, management practices and soil carbon levels; offered alternative contract designs to attract landholders; and developed monitoring and reporting protocols. The pilot was rolled-out in 2011 and 2012 and had 11 successful tenders with an average price of $A37 per t CO2-e. The results of this conservation tender will assist the design of future programs aimed at encouraging mitigation effort from the agricultural sector.

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Bridging the Gap Between Science, Economics and Policy to Develop and Implement a Pilot Market Based Instrument for Soil Carbon

Increasing soil organic carbon (SOC) has potential to offset greenhouse gas emissions, but the scope for on-farm carbon sequestration is poorly understood. A pilot scheme was developed in Central West NSW, Australia to trial the use of a market-based instrument to encourage farmers to increase soil organic carbon levels. The pilot considered the relationship between land use, management practices and soil carbon levels; offered alternative contract designs to attract landholders; and developed monitoring and reporting protocols. The pilot was rolled-out in 2011 and 2012 and had 11 successful tenders with an average price of $A37 per t CO2-e. The results of this conservation tender will assist the design of future programs aimed at encouraging mitigation effort from the agricultural sector.