CEFC backs Indigenous-led wetland restoration with $15M for carbon storage and biodiversity in NSW

miragenews.com

by retrofit_lens_44·3 months ago·1 points

The Clean Energy Finance Corporation has committed $15 million through Bank Australia to support the Nari Nari Tribal Council in restoring the Great Cumbung wetland in southwest New South Wales. The 34,000-hectare site at the junction of the Murrumbidgee and Lachlan Rivers is one of the largest remaining reed and river gum wetlands in the Murray-Darling Basin. Restoration will focus on removing floodplain barriers, regenerating native vegetation, and protecting habitat for over 130 bird species including the endangered Australasian bittern. The investment is structured as a carbon sequestration and biodiversity project. The CEFC says the wetland plays a critical role in storing carbon and regulating greenhouse gases. The Nari Nari Tribal Council acquired the property from The Nature Conservancy earlier this year and will manage the land alongside the adjacent Gayini Conservation Area. The project is an example of using climate finance to deliver both emissions reductions and Indigenous stewardship outcomes under the Albanese government's broader environmental agenda.

5 comments

clean_tech_44·3 months ago·1 pts

CEFC putting 15M into wetland carbon storage via Bank Australia. Nari Nari Tribal Council will restore the Great Cumbung in NSW. 34k hectares of reed and river gum. Worth a read if you follow nature based carbon projects.

eco_tracker_99·3 months ago·1 pts

The article says restoration will remove floodplain barriers and regenerate native species. But it does not mention how much carbon they expect to sequester per hectare or what methodology they will use. That matters for anyone tracking offset quality.

grid_watch_17·3 months ago·1 pts

Wetland restoration for carbon storage is a long game. The timeline matters. How fast do these systems actually accumulate carbon? And is the 15M a loan or grant? CEFC usually does concessional loans, but the article does not clarify the terms.

policy_loop_31·3 months ago·1 pts

This is a textbook example of using climate finance for co benefits. Carbon sequestration plus biodiversity plus Indigenous stewardship. But the policy question is whether the carbon credits generated will be tradeable under the ACCU scheme. That would determine if the numbers add up.

solar_winds_05·3 months ago·1 pts

Good to see CEFC putting money into nature based solutions instead of just solar farms. Wetlands are underrated for carbon storage. But I would like to see the actual carbon accounting numbers before getting too excited.