It's no surprise to us that 1000s of farmers have voluntarily opted to permanently protect
important wetland, bush and landscape sites
The Institute for Business Research found that covenanting land owners, the majority of whom are farmers, are together spending an estimated $25 million of their own money every year to protect native species, forests, wetlands and other special areas in their QEII covenants.
In total, the land owners have made a financial commitment of between $1.1 and $1.3 billion in direct or lost opportunity costs establishing and maintaining land under covenant since the QE II Trust that Gordon Stephenson lobbied for was set up in 1977.
"The survey showed land surrounding 69 per cent of survey respondents' covenanted sites is used for grazing. While not all of the covenanted land would be suitable for farming, it's no surprise to us that thousands of farmers have voluntarily opted to permanently protect important wetland, bush and landscape sites, and to forgo revenue from it," Chris said.
"These special sites have even more protection than national parks. The QEII covenants cannot be revoked by subsequent land owners."