News

Investment fund invests in watering

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September 15, 2017

The Goulburn Broken CMA's Environmental Water and Wetlands manager Simon Casanelia said the Yambuna Lagoon wetland was home to a number of threatened species.

FOR the first time in Victoria a privately owned wetland has been flooded using water donated by an investment fund.

The purposeful flooding is part of a scheme supported by the Murray-Darling Basin balanced water fund, a body which seeks to tackle water scarcity in the basin.

The fund is a partnership between The Nature Conservancy, Murray-Darling Wetlands Working Group and Kilter Rural.

Jamie Fitzsimons from The Nature Conservancy explained the fund buys and sells water, setting some aside for environmental purposes.

“The fund works with irrigators to purchase and lease water rights with the dual objectives of providing secure water to agriculture and restoring important wetlands,” Mr Fitzsimons said.

“When water is scarce and agricultural demand is higher, the fund makes more water available to farmers but when water is plentiful and demand is lower, more is allocated to private wetlands,” he said.

Up to 185 megalitres of water was used to replenish a thirsty lagoon at Yambuna, northeast of Echuca.

The Goulburn Broken CMA’s environmental water and wetlands manager Simon Casanelia said the wetland was home to a number of threatened species.

“This wetland supports a whole variety of different wetland birds and plants. When the water has finished being delivered it’s going to be spectacular,” Mr Casanelia said.

He said the GBCMA helped facilitate a relationship between the landowner and the fund.

“We’re all seeking the same outcome. That is to see improvements in the health of the wetland and this is another avenue available to us to achieve that,” he said.

Yambuna Lagoon owner Jamie McMaster said he was delighted to see the lagoon coming back to life as it flooded.

“We’ve seen some amazing sights. A turtle nest and baby turtles, rare birds and native plants,” Mr McMaster said.

The landowner said he welcomed the inundation of water to his billabong because it would have flow-on public benefits.

“This wetland feeds the billabongs in the national park so when this floods, the water will flow into those lagoons and the whole of Australia can benefit from that park and the resource it presents.”

So far the Murray-Darling Basin balanced water fund has raised $34m in capital investment and pledges.

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