“Our sustainable practices relate to soils, pastures and genetics, to try to produce a more emission-efficient animal,” he said.
Corrigan’s Rennylea Angus Farm aims to achieve carbon neutrality by 2030 by improving productivity and adopting new technologies, especially with genomic tools. In the last 30 years they have planted 100,000 trees on their farm.
“Social licensing practices are not only sought abroad, but also nationally. Last week we met with one of the big supermarkets that wanted to explore what we could do regionally,” he said.
“All retailers are committed to sustainability and are trying to figure out how to quantify it. [for consumers]. ”
Treasurer Matt Kean said the investment will reward farmers with tangible benefits for sustainable land management practices.
“This new era of sustainable agriculture could unlock up to $ 10 billion in ‘environmental, social and governance’ funding in Australia,” he said.
Farmers will be able to access up to $ 135,000 in total, with the scope of payments yet to be determined.
Agriculture and Western NSW Minister Dugald Saunders said the plan would give farmers and other landowners more options to diversify their incomes while maintaining “decision-making power” over how to manage their property.
National Farmers Federation executive director Tony Mahar said farmers have been widely adopting sustainable practices for years, but the state plan would eventually see these actions recognized.
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“The concept of being rewarded for caring for the landscape and improving biodiversity is something that farmers have been looking for,” he said.
“Australian agriculture has long been seen as ‘clean and green’, but many countries have caught up. We can now prove and prove that these features are registered … and, ultimately, premium pricing is something we should aspire to. “
Landcare NSW CEO Turlough Guerin welcomed the plan to help farmers and landowners participate in emerging natural capital markets.
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