9 January 2024. By Michael Guerin, AgForce CEO.
There’s an opportunity that’s ours for the taking if we are courageous enough.
The chance to show the way on how to best mitigate the effects of climate vulnerability by capturing carbon, in tandem with improving environmental outcomes. Let me explain.
These two principles do not have to be in opposition to each other as is so often proposed.
An approach that captures vast amounts of carbon whilst at the same time enhancing environmental consequences across a broad range of elements such as biodiversity is possible, and industry can take a lead role in its ongoing development. What an opportunity.
Pairing carbon offsets with ‘nature based’ solutions – thereby giving a strong formula and framework – is already being done. And this has important ramifications.
It means we don’t have to throw out offsets as some are attempting to do – but rather – we can embrace them. The backlash to carbon offsets results in them being seriously under-utilised by businesses wanting to tackle climate change.
I sat with a bank the other day – which was proposing implementing emissions targets for all new ag lending from 2025, with no chance of offsets being accounted for in any form. To say that discussion was frustrating is indeed an understatement.
I offered the idea that if they were serious about contributing to climate, they could take a much broader approach to recognising the net contribution of a property by accounting for all aspects of Natural Capital. We for example sequester carbon in a scientifically verifiable way on property and can invest in doing more of the same. Opportunities abound.
Evaluating your Natural Capital at property level is a good starting point and first step towards establishing a minimum baseline in these negotiations. That can be easily done through an AgCarE assessment – AgCarE.org.au
So, to the banks and all others who support our great industry – let’s not throw out the baby with the bathwater. Rather, let’s embrace the enormous opportunity industry has to further improve Australia’s food security – alongside making our environment more resilient.
We as producers can provide a huge fillip to an industry all Australians can be proud of, while supporting stronger environmental outcomes at the same time. Let’s grab the opportunity.
