This month we look down into Natural Capital

Train of thought

(A succession of connected ideas, a path of reasoning)

This month we look down into Natural Capital & Monetisation

What is Natural Capital?

Natural capital comprises Earth’s natural assets (farms soil, air, water, flora and fauna) and the ecosystem services resulting from them, which make human life possible.

Why is Natural Capital important?

Building and preserving natural capital can improve landscape resilience and reduce the impacts of climate change through the storing of carbon from the atmosphere, while increases productivity and profitability across the farm quadruple bottom line factors: economically - environmentally - socially

Building and preserving natural capital through regenerative agriculture

We work together with partners and clients to preserve and enhance natural capital in the Australian landscape and create long-term farm investment value.

How we monetise Natural Capital

Caring for Country takes good management - people - and money. Farmers to be rewarded economically for Caring For Country has been the missing link. As a society we cannot expect our farmers to take on this financial burden on their own.

Through the use of innovative strategies, market maturity and the utilisation of new technologies, infrastructure and systems, natural capital is improving agricultural returns and driving social change.

Measuring and reporting on outcomes such as biodiversity and habitat restoration unlocks economical revenue streams from funds to build natural capital for all society to benefit.

Investing in Australian Agricultural real assets as a Nature-based solution can proactively respond to climate change, protect our natural resources and provide a sustainable pathway to healthy food security.

Australian Agriculture has the potential to play a crucial role in providing financially tenable solutions to the worlds health and well being of environmental and social issues as it is directly related to climate, biodiversity, soil fertility, land remediation and human health. Implementing successful Nature-based solutions in agriculture to respond to climate change requires action based on science and on farm creativity and skill.

Australian Agriculture is directly engaged with climate change, biodiversity, soil fertility and land degradation, it holds the key to bringing together or bridging often fragmented stakeholders – resource managers, producers, academia, value-chain operators, advocates, policymakers and local communities.

Please scroll down or across top for more chapters for some helpful knowledge and info on Environmental markets from Land Restoration Fund

Recognising on-farm biodiversity management: AFBCS Phase 1

Australian Farm Institute

Deterioration in biodiversity undermines the ecological systems which support all life and form our store of natural capital, and agriculture is more reliant on natural capital than almost any other sector of the economy. As such, biodiversity management is one of the most significant issues that Australian agricultural and environmental policy-makers must address.

In 2019 the Australian Government announced funding for an Australian Farm Biodiversity Certification Scheme to be developed as part of the national Agriculture Stewardship Package, currently in development. The National Farmers’ Federation was tasked with development of the Scheme across three phases. The Australian Farm Institute was engaged in March 2020 to conduct Phase 1, namely desktop and consultative research into existing verification or certification schemes, sustainability frameworks and best management practices, both domestically and internationally, and determine their applicability in Australian agricultural systems.

Link to full report of Australian Farm Institute Australian Farm Bodiversity Certification Scheme Phase 1 Report

https://nff.org.au/wp-content/uploads/2020/11/Recognising-on-farm-biodiversity-management_AFI_Aug2020.pdf

Clarkey - Accounting for Nature, Goondicum is Natural Capital?

The Accounting for Nature team has been gathering data on the condition of the natural resources, like soils and native vegetation, at Goondicum Station. This is part of the Accounting for Nature framework that determines just how valuable, both environmentally and economically, those natural assets are – part of the exciting natural capital sector.

Check out this latest Clarkey instalment to find out more about how this works and see if it’s something you’d like to get involved in.

This month we look down into Natural Capital & monetisation

The Accounting for Nature® origin story

The Accounting for Nature® Framework has been tried and tested for over a decade at both property (enterprise) and ecosystem (regional) scales.

In 2008, the Wentworth Group of Concerned Scientists and other experts in science, economics and statistics, applied a conceptual model to develop a practical and robust method to measure changes in the biophysical condition of environmental assets. Over the course of the next decade, and with the support of approximately 200 scientists, economists, statisticians and other experts, the AfN model was successfully applied to native vegetation, agricultural soils and fauna environmental assets, at both the regional (ecosystem) and enterprise (property) scale. In 2018, the Wentworth Group of Concerned Scientists licensed the model and associated intellectual property and trademarks to Accounting for Nature Ltd, to further develop and operationalise the concept. Accounting for Nature Ltd is focused on making the model accessible to landholders, investors and governments so that they are able to measure the condition of environmental assets.

This video is part of the Accounting for Nature® Accredited Expert training course - a self-paced, online course that equips participants with the skills and knowledge to measure and certify the environmental condition of a project, property or region using the AfN Framework. For more info about Accounting for Nature®: https://www.accountingfornature.org/

The role of the Standards & Accreditation Committee

Jan 22, 2021 This video explains the role of the Standards & Accreditation Committee in ensuring the highest scientific rigour in the processes, protocols and methods of the Accounting for Nature® Framework.

What is an Indicator Condition Score?

Jan 22, 2021 This video gives a brief explanation of what environmental indicators are, and their role in allowing us to measure the condition of environmental assets (e.g. soils, vegetation, fauna).

For more info about Accounting for Nature®: https://www.accountingfornature.org/

What are 'Environmental Assets'?

Jan 21, 2021 Environmental condition accounting provides a health assessment of ‘Environmental Assets’, such as agricultural soils, rivers, native vegetation and wildlife. In this video, provide an introduction to what the term Environmental Asset means under the Accounting for Nature® Framework.

Steps to getting new Method approved under the AfN Framework

Jan 21, 2021 Under the Accounting for Nature® Framework, all environmental accounts must be prepared in accordance with an accredited and approved Method.

These Methods contain detailed measurement, reporting and verification processes that must be used at key stages in the 8-step accounting process.

There are two options for selecting Methods. You can either: 1. Use an approved Method that applies to the Environmental Assets (if available); or, 2. Develop a new Method, either independently or in collaboration with AfN Ltd, and submit it for accreditation and approval for use under the Framework.

Using the Accounting for Nature Level 3 Native Vegetation Method

Aug 3, 2021 This video provides a step-by-step tutorial on using the Accounting for Nature & Landcare Australia Level 3 (Moderate Confidence) Native Vegetation project/property-scale monitoring method. This method can be downloaded via: https://www.accountingfornature.org/m.... If you are unsure on how to use this Method, please consider consulting a AfN Accredited Expert (https://www.accountingfornature.org/e...) or contact Accounting for Nature Ltd.