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Supporting Economic Recovery through Carbon Markets

Supporting new Indigenous-led economies such as the carbon economy, cultural economy and nature-based economies will be key to Australia truly becoming a Low Emissions economy.

ICIN recently asked the Australian Government Technology Investment Roadmap Taskforce to reference the opportunity to invest in Research and Development to develop methods which account for the carbon benefits of Indigenous land and sea management, as well as to account for the social and environmental costs and benefits of different pathways outlined in the Roadmap.

Investing in Indigenous-led scientific methods which measure the carbon benefits generated by Indigenous land and sea management, although based upon ancient traditional practices should be regarded as “new technology” given that this requires investment in new research and development as well as support for new tools (such as GIS mapping, NAFI videos, drone footage, 3D maps) which enable Indigenous groups to manage such vast landscapes and access hard to reach areas.

Connecting this Investment Roadmap to strategies to “Close the Gap” on Indigenous disadvantage and to support the government's response to Climate Change by supporting the Indigenous carbon industry is vital.

Last month ICIN presented to the New Economy Network Australia (NENA) new NT hub about the Indigenous carbon industry as part of a webinar about innovative economies for the Northern Territory. NENA is a network of individuals and organisations working to transform Australia’s economic system so that achieving ecological health and social justice are the foundational principles and primary objectives of the economic system.

ICIN was invited to make a submission to the Territory Economic Reconstruction Commission highlighting the opportunities to achieve wide ranging economic benefits by supporting the Indigenous carbon industry.

ICIN also informed the Beyond Zero Emissions; Million Jobs Plan which outlines pathways to support economically, environmentally and socially sustainable economies to rapidly cut Australia’s greenhouse gas emissions. 

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April 16, 2024

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