ABC News has reported that carbon farming projects facilitated by AI Carbon on two pastoral stations in South Australia's Outback are to become two of the state's largest, with the potential to sequester three million tonnes of carbon over the next 25 years.
At the current price of carbon of $37 per tonne, each project could be worth roughly $40 million of a quarter of a century.
Combined, the projects are likely to sequester enough carbon to offset an average of 20,000 cars per year for the next 25 years. Each of the pastoral stations cover a land area many times the size of the Adelaide metropolitan area.
The ABC said that AI Carbon CEO Adam Townley told them that "pastoralists have to be looking at carbon as part of their revenue mix."
"It's not going to work for everybody, but for those that it does it's going to be a big capital injection into their farming operations," he said.
"They'd probably rank in the top 10 per cent of projects sitting in SA at the moment, and there's a number of other landholders that are reviewing opportunities for carbon projects as well," Mr Townley old the ABC.
Buckleboo Station, approximately 150 kilometres west of Port Augusta is part of the Paroo PAstoral Company, a division of Lightforce Group. Yudnapinna Station, owned by AJ & PA McBride Ltd, is approximately 100 kilometres north-west of Port Augusta.
Read more on ABC News here: Pastoral stations to sequester 20,000 cars' worth of carbon each year
Map features satellite image by NASA Visible Earth with location based on Google Maps data.