A cattle station in far north Queensland has signed a 25 year carbon credit agreement that splits revenue equally between the pastoral leaseholder and the Wik and Way peoples. The deal covers nearly 250,000 hectares at Strathburn Station and uses traditional burning practices to reduce late dry season fires, cutting emissions and increasing carbon storage in biomass. The former economist turned farmer says the arrangement is a first for Australia and could provide a financial boost for native title holders. Carbon credits from savanna burning are tradeable certificates sold to the government or businesses needing offsets. The Australian carbon market is estimated at 60 to 150 million dollars annually. Revenue from the credits helps Traditional Owners meet landholding obligations and fund cultural and environmental projects. The agreement shows how carbon markets can directly benefit Indigenous communities when revenue sharing is built into the deal from the start.
