Document ID: chunk:federal_register_of_legislation:F2024L00150:clause:1_1
Version: federal_register_of_legislation:F2024L00150
Segment Type: clause
Provision Reference: sch 1 cl 1
Character Range: 2163–4543

1  Preliminary
 (1) Climate change disproportionally impacts the agriculture sector, landscape and communities. There is already a noticeable increase in the frequency and severity of droughts and the compounding impacts of consecutive natural disasters. Farmers, agricultural landscapes, and communities must continue to reorganise, adapt, and potentially transform in response to these impacts now and into the future, to enable a thriving, sustainable sector. It is acknowledged that drought is one of a number of risks, which calls for active preparation and adaption.
 (2) Australia's First Nations people and communities have been managing land and sea Country for over 65,000 years, including the preparation for and management of drought. First Nations people are the Traditional Owners of Country throughout Australia and have continuing connection to land, sea and community. First Nations people's experiences of, and responses to, drought conditions can be different from those of the broader Australian community. The Australian Government recognises the benefit of working closely with First Nations people to address the challenges of drought and our changing climate.
 (3) The Future Drought Fund is a $5 billion investment, established under the Act. To achieve the objective of building drought resilience, $100 million in returns is made available each year.
 (4) The Future Drought Fund builds drought resilience alongside, and in partnership with farmers and a range of stakeholder groups including government, industry representatives, farming systems groups, First Nations people, Natural Resource Management organisations, professional advisers, universities and other research organisations, the private and not-for profit sectors and rural, regional and remote communities. The Future Drought Fund has been established and will be delivered in accordance with the agreed role of the Commonwealth under the National Drought Agreement and is aligned with the forthcoming Australian Government Drought Plan.
 (5) Every four years, the Drought Resilience Funding Plan is reviewed, and replaced with another plan as required by the Act. This regular process of review, informed by robust consultation, ensures the Plan continues to reflect the needs and lived experience of farmers and their communities in building drought and climate resilience over time.