Warren Entsch (Leichhardt, Liberal Party) Share this | Link to this | Hansard source

I would like to take this opportunity to pay tribute to Terrain Natural Resource Management who were recently named in the AFR BOSS Most Innovative Companies list for its reef credits initiative. Terrain NRM is a small not-for-profit organisation working with more than 50 organisations and hundreds of individual land managers and farmers to ensure that natural resources across our regions are used sustainably.

Their reef credits initiative is a world-first market approach to incentivise farm changes to benefit water quality flowing into the Great Barrier Reef. It is an ecosystem service market similar to carbon credits. It pays farmers to make practice changes that prevent pollution from fertilisers, pesticides and sediment flowing into the reef. Farmers' projects are audited and payment is based on actual achievements, and Terrain NRM expects the first reef credits to be exchanged by the end of this year.

I'd also like to take the opportunity to thank Terrain NRM CEO, Carole Sweatman, the staff and their board for their fantastic work in protecting our natural environment. Finally, I'd also like to wish Carole, who is leaving Terrain after nine years at the helm, all the best for her future endeavours. It was an absolute pleasure to work alongside her during this time. Her dedication, leadership and experience will certainly be missed.