Historic farm's sale to carbon credit company raises community ire

The sale of Cobungra Station, a cattle property with over 170 years of history near Omeo, Victoria, has sparked community unease and criticism from a federal MP. The station has been purchased by Silva Capital, a specialist carbon fund manager that creates Australian Carbon Credit Units projects.

Silva Capital intends to transform the station by integrating carbon farming with existing cattle operations. This will involve planting more native vegetation and utilizing new techniques for open woodland alongside pasture to enhance productivity and biodiversity. "What we've aimed to prove here is that food and fibre and carbon sequestration biodiversity can go hand in hand and create a more sustainable agricultural system," said Silva Capital co-managing director Raphael Wood.

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What we've aimed to prove here is that food and fibre and carbon sequestration biodiversity can go hand in hand and create a more sustainable agricultural system.

However, the plan has raised concerns among some residents and Darren Chester, the federal opposition agriculture spokesperson. Local historian Dianne Carroll fears the project will alter the station's identity and lead to the loss of historical farming land. "I'm not arguing against the conservation or protection of our environment, but I'm questioning whether productive, historical, significant country is the appropriate place to permanently convert land for the generation of carbon credits," she stated.

Chester criticized the sale, arguing it distorts the agricultural land market. He believes organizations using government subsidies to purchase land for carbon projects outbid those seeking to continue traditional farming. The Coalition has urged the government to reject the proposal, which has been approved by the Foreign Investment Review Board.

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I'm not arguing against the conservation or protection of our environment, but I'm questioning whether productive, historical, significant country is the appropriate place to permanently convert land for the generation of carbon credits.