The proposal has 6 components that would have effect from 1 July 2022.

• Component 1 would invest $250 million across 3 years to establish the Green Agriculture Australia research and development centre.
• Component 2 would invest $10 million across 3 years to create an organic advisory service for famers in each state and territory.
• Component 3 would require the Clean Energy Regulator (the Regulator) to purchase Australian Carbon Credit Units (ACCUs) at $50/tonne.
  • This would replace the Regulator’s current purchasing arrangements from the proposal start date.
• Component 4 would restore the Carbon Farming Futures Program at $25 million per annum.
• Component 5 would invest $20 million across 3 years to fund projects to support the hemp industry.
• Component 6 would invest $50 million across 3 years to create a research and development centre for seaweed farming