This bill is currently before Parliament.
Climate, energy & environment
The Clean Energy Finance Corporation (CEFC)A government organisation that provides clean-energy finance. could no longer fund someone to buy Australian farmlandAustralian land used wholly or mainly for a farming business. when a significant purpose of the purchase is regenerating the land or running forestry operations to obtain carbon credits.
Dan Tehan said the bill was intended to protect farming, jobs and small regional communities from farmland being converted to forests for carbon credits. The explanatory memorandum points to the sale of Rushy Lagoon in Tasmania: the CEFC provided $69 million towards the $142 million purchase by UK investment firm Gresham House. Nationals MP Sam Birrell said the property covered more than 21,000 hectares and argued that taking it out of agricultural production would reduce regional economic activity and food production. The explanatory memorandum says the bill would have no financial impact.
Australia already had a Clean Energy Finance Corporation able to finance clean-energy-related projects, and it contributed $69 million to Gresham House’s $142 million purchase of Tasmania’s 21,000-hectare Rushy Lagoon for pine planting and carbon credits rather than farming. That purchase, alongside earlier farm conversions near Simpson and concerns about lost production, jobs and regional activity, prompted Dan Tehan MP to introduce this private member’s bill on 14 September 2026 to stop CEFC funding for similar farmland purchases and allow regulations to restrict related investments.
The evidence pack contains no speech criticising the bill itself. Dan Tehan (Liberal) instead criticised the CEFC's $69 million support for the Rushy Lagoon purchase, arguing that Australian farmers could not compete with government-backed finance and that regional communities had not been properly consulted. Sam Birrell (Nationals) argued that converting more than 21,000 hectares from farming to pine trees would reduce food production, regional jobs and export income.
Dan Tehan MP introduced this bill. Supportive speeches so far have come from Liberal, Nationals.
Did it become law?
Not yet
Final passage
No final vote yet
The bill has not yet completed passage through Parliament.
Days since introduction
22 days
Updated 06 Oct 2026.
Meaning
The Clean Energy Finance Corporation (CEFC)A government organisation that provides clean-energy finance. could no longer fund someone to buy Australian farmlandAustralian land used wholly or mainly for a farming business. when a significant purpose of the purchase is regenerating the land or running forestry operations to obtain carbon credits. The restriction is not limited to foreign buyers.
The government could use regulations to prohibit other CEFC investments in activities related to Australian farmlandAustralian land used wholly or mainly for a farming business.. The bill itself does not specify which additional activities could be covered.
The CEFC's government-set investment rules would have to include the farmland restriction. Any direction that conflicts with it would have no effect, including a direction issued before the change began.
The restrictions would apply whenever the CEFC performs its investment role from the day after the bill receives Royal AssentFormal approval that turns a bill into law..
62A Prohibited farm investments (1) An investment is a prohibited farm investment if: (a) the investment is for the purposes of enabling a person or entity to purchase Australian farmland; and (b) a significant purpose of the person or entity in purchasing Australian farmland is to carry out, or to facilitate, land regeneration or forestry operations on that land to secure the issue (whether in Australia or outside Australia) of a carbon credit unit.Clean Energy Finance Corporation Amendment (Protecting Australian Farmland) introduced text
(2) An investment is also a prohibited farm investment if: (a) the investment is for the purposes of activities that relate to Australian farmland; and (b) the investment is prescribed by the regulations for the purposes of this paragraph.Clean Energy Finance Corporation Amendment (Protecting Australian Farmland) introduced text
6 At the end of section 65 No prohibited farm investments (2) The Investment Mandate is taken to include a direction that investments for the purposes (or purportedly for the purposes) of the Corporation’s investment function must not be prohibited farm investments. (3) A direction included in the Investment Mandate has no effect to the extent that it is inconsistent with the direction mentioned in subsection (2). 7 Application of amendments (1) The amendments of the Clean Energy Finance Corporation Act 2012 made by this Schedule apply in relation to the performance by the Clean Energy FiClean Energy Finance Corporation Amendment (Protecting Australian Farmland) introduced text
1. The whole of this Act The day after this Act receives the Royal Assent. Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.Clean Energy Finance Corporation Amendment (Protecting Australian Farmland) introduced text
Context
Australia already had a Clean Energy Finance Corporation able to finance clean-energy-related projects, and it contributed $69 million to Gresham House’s $142 million purchase of Tasmania’s 21,000-hectare Rushy Lagoon for pine planting and carbon credits rather than farming. That purchase, alongside earlier farm conversions near Simpson and concerns about lost production, jobs and regional activity, prompted Dan Tehan MP to introduce this private member’s bill on 14 September 2026 to stop CEFC funding for similar farmland purchases and allow regulations to restrict related investments.
Simpson farms are converted to tree planting
A foreign company bought dairy and beef farms near Simpson to plant trees for carbon credits, prompting concern about employment and the future of the local community.
Hansard ↗Rushy Lagoon is bought for carbon credits
The CEFC provided $69 million towards Gresham House’s $142 million purchase of more than 21,000 hectares in Tasmania to plant trees for carbon credits, taking productive agricultural land out of farming.
Clean Energy Finance Corporation Amendment (Protecting Australian Farmland) explanatory memorandum ↗Community opposition to farmland conversion is raised in Parliament
Dan Tehan said local shops, rural suppliers and sporting clubs feared tree planting would reduce jobs and weaken the small rural community.
Hansard ↗Dan Tehan MP introduces the farmland bill
The private member’s bill proposed stopping CEFC funding for farmland purchases primarily intended to generate carbon credits through land regeneration or forestry, while allowing regulations to restrict related investments.
Parliamentary timeline ↗Legislative route
The bill was formally presented to the chamber and read a first time, which starts its parliamentary journey.
Introduced and read a first time
A minister or sponsoring member moved the second reading, opening the main debate on the bill's purpose and principles.
Second reading moved
Key criticism
The evidence pack contains no speech criticising the bill itself. Dan Tehan (Liberal) instead criticised the CEFC's $69 million support for the Rushy Lagoon purchase, arguing that Australian farmers could not compete with government-backed finance and that regional communities had not been properly consulted. Sam Birrell (Nationals) argued that converting more than 21,000 hectares from farming to pine trees would reduce food production, regional jobs and export income.
Only speeches supporting the bill are included, so the evidence does not establish the government's response or any arguments against the proposed restrictions.
Further sources
Votes
No recorded votes have been found yet for this bill.
Parliamentary debate
Start here — lead voices
Tehan supports the bill because it would stop the Clean Energy Finance Corporation from helping foreign entities buy Australian farmlandAustralian land used wholly or mainly for a farming business., which he argues displaces farmers and harms rural communities.
Read in Hansard ↗Birrell supports the bill because it would stop taxpayer-backed finance from helping foreign investors convert productive Australian farmlandAustralian land used wholly or mainly for a farming business. to non-agricultural uses, which he says harms food security, exports, jobs and regional communities.
Read in Hansard ↗All speeches by bloc
2 speakers · 2 support
“This private member's bill is all about saying enough is enough. The Clean Energy Finance Corporation cannot step in and help fund a foreign entity to buy Australian farmland. Enough is enough.”Read the full speech in Hansard ↗
“Clean Energy Finance Corporation Amendment (Protecting Australian Farmland) Bill 2026, is a critical private member's bill. Australia is facing a cost-of-living crisis, and the attack on agriculture is part of what is causing that cost-of-living crisis. Families are paying much more at the supermarket, more for electricity and more for everyday essentials. At a time when people are struggling, government policy should be focused on producing food, supporting farmers and strengthening our regional communities, not attacking them and not attacking agriculture itself.”Read the full speech in Hansard ↗
Record
House · Introduced and read a first time
Introduced
The bill was formally presented to the chamber and read a first time, which starts its parliamentary journey.
House · Second reading moved
Second reading opened
A minister or sponsoring member moved the second reading, opening the main debate on the bill's purpose and principles.
