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The Environmental Stewardship Program is a new Australian Government initiative that will focus on the long-term protection, rehabilitation and improvement of targeted environmental assets on private land or impacted by activities conducted on private land, including freehold and leasehold. The Stewardship Program will be jointly administered by the Minister for the Environment and Water Resources and the Minister for Agriculture, Fisheries and Forestry. The first priority is Box Gum Woodland.
$50 million will help establish contracts with landholders over the next four years, with follow-up payments for up to 15 years.
This is a long-term initiative. Contracts will be entered into over four years from 2007/2008 to 2010/2011. Contract terms will be up to fifteen years with payments concluding in 2025/2026.
The Program will take a market-based approach to environmental management. It will offer contracts to landholders who can provide environmental services on a cost-effective basis. These contracts will provide incentives through payments to selected farmers and other private land managers to achieve long-term environmental outcomes on their properties.
Land managers will be selected for participation in the stewardship program through auction, tender and other market-based mechanisms.
For more information about the Environmental Stewardship Program, click the following link:
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