PARCELS of private land – that combined, cover an area five times the size of the City of Melbourne – are being transformed into new habitats helping Victorian wildlife thrive and capturing carbon.
Victorian Environment Minister, Lily D’Ambrosio, is calling for expressions of interest from potential partners in the landmark BushBank program, restoring 20,000 hectares of private land and creating more than 100 jobs across Victoria.
The almost $31 million program will revegetate and restore biodiversity with millions of trees and shrubs, delivering unique habitats for Victorian wildlife and storing more than 4.5 million tonnes of carbon thanks to the program – integral to Victoria reaching net-zero emissions by 2050.
This will generate new opportunities for regional communities and income streams for landowners, driving investment from emerging carbon markets, supporting biodiversity and creating jobs.
“We’re regenerating our precious biodiversity, restoring native habitats and creating regional jobs while capturing carbon to help Victoria reach net-zero emissions by 2050,” Ms D’Ambrosio said.
“The partnerships are providing landowners and Traditional Owners with new income streams to emerging carbon markets, as well as regenerating land to safeguard Victoria's rich biodiversity.”
BushBank will also include an initial $7 million in grants available to Traditional Owner Corporations to lead restoration on Country.
The program supports Aboriginal self-determination with opportunities for Traditional Owners to identify priority values and locations for restoration, pursue training and capacity building opportunities, investigate new emissions-reduction methodologies for cultural practices, and seek out natural-resource related economic opportunities.
“Aboriginal Victorians know what is best for community and Country,” Aboriginal Affairs Minister, Gabrielle Williams said.
“Through supporting the traditional management of our natural environments, we support better outcomes for everyone.”
These programs are part of the Nature restoration for carbon storage – BushBank program announced in the Victorian Budget 2020/21, which works to restore public and private land across Victoria.
BushBank is supported by the $15.3 million Victorian Carbon Farming Program, helping landowners to plant agroforestry and shelterbelt trees, access existing carbon markets and drive on-farm benefits and new income streams.
The program will play a key role in helping meet the Government’s Biodiversity 2037 targets to permanently protect 200,000 hectares of private land and revegetate 200,000 hectares of land in priority areas.
For more information visit: environment.vic.gov.au/bushbank.
