Table 7 Potential incentives for the LDC
Incentive type
Extension / information provision
Feasibility
Extension services are already offered by the LDC, as well as by QDAF and Grazing BMP. Extension / information provision provides information and services that support all other incentives.
Enhancing extension services and information provision is recommended as part of the incentive suite for the LDC.
Social recognition
Market brokerage
Product differentiation
Voluntary conservation covenant
Voluntary management agreement
Social recognition is recommended as part of the suite of LDC incentives as a complement to other incentives and to encourage high performance and innovation.
Market brokerage is not a realistic option for the LDC due to the absence of markets for water quality benefits. If markets emerge in the longer term, NQDT may be able to provide brokerage services to facilitate water quality outcomes.
Watching brief for brokerage in carbon credits and future Reef Credits.
Product differentiation is not recommended for LDC due to the set up time and costs and uncertainty about market premiums. Produce differentiation may be an option for longerterm industry development or niche producers to undertake at their own initiative.
Currently offered by the Queensland Government, and are likely to complement other incentives for graziers motivated by conservation outcomes.
Recommended as a part of the incentive suite for the LDC.
Already offered by LDC and other organisations. Recommended as part of the suite of LDC incentives.
Industry codes / self-regulation Industry codes such as BMPs are recommended as a part of the suite of incentives for LDC. Grants
Subsidies
Stewardship payments
Credit trading
Cap and trade
Offsets
Already implemented by the LDC. Grants with improved contracting, staged payments through time varying based on impact on sediment reduction and improved monitoring and compliance are recommended as part of the suite of incentives for the LDC. This moves the grants to be closer to stewardship payments.
Already implemented by the LDC. Enhanced and targeted subsidies are recommended as a part of the suite of incentives for the LDC.
Recommended as a part of the suite of incentives for LDC due to the recommended changes to the implementation of grants.
Not recommended for the LDC process beyond a watching brief of the development of Reef Credits.
Watching brief for carbon and Reef Credits.
Not recommended for the LDC due to the regulation required for operationalisation and transaction costs of implementation.
Watching brief for brokerage opportunities.
Not recommended for the LDC due to the regulation required for operationalisation and transaction costs of implementation.
Watching brief for brokering opportunities.
Land purchase Not recommended for the LDC due to the cost of purchase and ongoing management. Local government rate rebates Not recommended for the LDC. Not within the power of the LDC. Tax concessions
Tax concessions and low interest loans are available for some relevant activities, and LDC is sharing this information with BBB graziers.
Low interest loans Provided by QRIDA. LDC provide information on these. Debt for conservation Not recommended due to high cost of purchase and low operational certainty.
Landholders driving change: Exploring new incentives | 41