Tasmanian politicians urge PM to block Rushy Lagoon sale over carbon credit conversion

Tasmanian acting Premier Bridget Archer and Primary Industries Minister Gavin Pearce are asking Prime Minister Anthony Albanese to reverse the sale of Rushy Lagoon, a 22,000-hectare dairy and beef farm in northeast Tasmania. The property is being sold to the Tasmanian Natural Asset Trust, managed by UK forestry asset manager Gresham House, for over $100 million. The deal includes financing from the Clean Energy Finance Corporation and plans to convert the farm into a pine plantation to generate carbon and biodiversity credits under Australia's Nature Repair Market. Archer and Pearce argue the sale turns productive agricultural land into a tree plantation for carbon offsets, backed by taxpayer money. Labor Senator Helen Polley countered that the criticism damages investor confidence in Tasmania. The dispute highlights a growing tension between agricultural land use and carbon credit generation, especially when foreign entities and public finance are involved. The outcome could set a precedent for how Australia balances farming, carbon markets, and land use policy.