Valuing Natural Capital on your farm
Banner image, Harry Youngman checking the top-soil at Tiverton. Photo by 2040
In collaboration with participating farmers, the Natural Capital Accounting project will measure and communicate farm-scale environmental performance and natural capital management. With our project partners, we are working closely with fifty farmers across New South Wales, Victoria and Tasmania to integrate financial, farm management and environmental data into farm-scale natural capital accounts.
The accounts will provide farmers with verifiable information about the natural capital on their farm (e.g., soil, vegetation, biodiversity). Farmers can use the accounts to improve their management of natural capital and farm performance.The accounts will be available on a user-friendly electronic platform, enabling cost-effective collection and communication of the information in a format that is coherent with United Nation’s Standards of Environmental-Economic Accounting.
Natural capital accounting has the potential to empower producers to leverage their sustainability credentials for commercial benefits.
This project is jointly funded by Odonata, La Trobe University and the Australian Government’s Smart Farming Partnership Program.