In order to achieve a net zero by 2050 trajectory in line with Paris Agreement targets, Australia must find a way to address traditionally hard-to-eliminate emissions including those created through long-haul freight, shipping and industrial processes.
The land sector presents significant though largely untapped opportunities to reduce these emissions through carbon sequestration; primarily through carbon forestry. Added opportunities can be found through decreased deforestation and improved agricultural practices.
With limited reduction of emissions in the land sector to date, common barriers include many landowners being unfamiliar with biosequestration, and supply chain and delivery models being not yet at scale. The need for coordination across many different landowners and stakeholders is also a barrier.
ClimateWorks’ research has found:
Up to 4.5 Gigatonnes of biosequestration is required by 2050 in order for Australia to achieve zero net emissions in line with Paris Climate Agreement commitments
Biosequestration through carbon farming provides a range of benefits to landowners and communities beyond emissions reduction. These benefits include financial savings and business improvement opportunities such as reduced run-off, as well as improved biodiversity, water quality and farm productivity and profitability.
ClimateWorks is collaborating with stakeholders throughout the land sector to reduce barriers to emissions reduction opportunities. This includes quantifying the benefits of biosequestration projects to encourage uptake, and exploring potential policies and models to help accelerate action.