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Farmers in the New South Wales south-east are being told to seek legal advice before they sell “carbon credits” for forestry projects on their land.
Australian Property Institute spokesman John Sheehan, who visited Narooma, says under the Federal Government’s Carbon Pollution Reduction Scheme ownership of those credits is being taken away from the landholder.
This is despite farmers being encouraged to diversify into forestry to create “carbon sinks” as a way to augment their income.
He says farmers could lose out because of uncertainty over who owns the rights to carbon credits created by tree planting.
“We have a couple of examples already of farmers tying up part of their property for something like 150 years,” he said
“They are receiving really minimal benefit for the actual impediment on part of their property and seeing in reality a diminution of the value of the rest of the property as a result of that carbon right being established”.
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