Farm Biodiversity Scheme
In 2019 the Australian Government announced funding for the implementation of an Australian Farm Biodiversity Scheme, to be developed and led by the National Farmers’ Federation. As part of the Agriculture Stewardship Package, the aim of the scheme is to reward farmers for managing biodiversity on farm through market-based mechanisms and thus enable the continued provision of natural capital benefits to the wider community.
The AFI is conducting Phase 1 of the Scheme, focused on desktop and consultative research, reviewing international best practice management standards for relevant agricultural biodiversity programs. The project for this phase will underpin the practical development and trial of biodiversity market mechanisms to be developed in phases 2 and 3.