Liberal Party of Australia moves to block taxpayer-funded carbon land acquisitions

The Liberal Party of Australia Coalition has announced plans to introduce legislation aimed at halting the government’s net zero spending and preventing taxpayer-funded investment in carbon-offset land acquisitions.

The move follows the $142 million sale of the 21,745-hectare Rushy Lagoon property in Tasmania to the UK-based investment firm Gresham House. The Clean Energy Finance Corporation (CEFC) provided $69 million toward the purchase, with approximately 9,000 hectares expected to be converted into a pine plantation for carbon offsetting.

Opposition Leader Angus Taylor stated that the Coalition intends to prohibit the CEFC from providing financial assistance to entities seeking to acquire Australian agricultural land for carbon projects. Taylor argued that such practices threaten national food security by allowing foreign carbon funds to outbid local farmers for productive farmland.