The Minns Labor Government is continuing work to future proof the New South Wales agricultural industry, and increase the resilience of farms to the changing climate, with the appointment of 11 new Natural Capital Advisors.
The NSW Government has invested $2.5 million into the program run by Local Land Services, which following the appointments announced today will be expanded state wide.
Natural Capital Advisors provide support and tailored advice to farmers and land managers to understand the opportunities available to them when investing in Natural Capital.
Natural Capital refers to the value of natural assets on land such as, soil, trees, water, plants and ecosystems.
Good management of natural capital has multiple benefits to landholders and the environment, including increased biodiversity, reduced pollution and improved air and water quality - increasing a farms resilience against climate change.
The Natural Capital Advisors will engage with farmers and assist them in understanding the environmental and financial opportunities available to them in the growing Environment Market. These markets are formed when people buy, sell and trade natural assets for monetary value.
The NSW Government is working to ensure NSW Farmers are at the forefront as these markets expand to reflect consumers, investors, banks, and insures increasingly taking environmental outcomes into account when making decisions.
Landholders who wisely invest in Natural Capital have the opportunity to earn a return by participating in one of the environmental market streams, including:
- Biodiversity markets - A landholder can create biodiversity credits by managing, restoring or protecting species or ecosystems on their land.
- Capital asset accounting - Land managers can also add the natural assets that they manage to their business balance sheet through natural capital accounting methods.
As part of its new natural capital support services, NSW Local Land Services will be hosting Natural Capital Conversation events in August and September to provide landholders with information on how they can manage their natural assets to grow their farm business.
At the upcoming Natural Capital Conversation events, landholders will learn about the natural capital they are managing on their properties. They will find out about emerging opportunities, as well as benefits and risks, so farmers can make the best decision for their business.
Landholders can register their interest in the NSW Government's new natural capital profiling service to get a snapshot of their natural assets and possible market opportunities.
For more information visit: www.lls.nsw.gov.au/natural-capital
Minister for Agriculture, Regional NSW and Western NSW Tara Moriarty said:
"The NSW Government is committed to working with farmers so they can futureproof their operation, better protect their land and expand their revenue streams.
"We know that farmers want to find ways to make their farms more productive and sustainable, maintain access to markets, and improve natural resources on their farms.
"That's why we've invested in this natural capital initiative and appointed 11 natural capital advisors to provide independent information and support landholders navigate decisions in natural capital management and environmental markets.
"From today, farmers can contact the advisors to get started on their natural capital journey and be rewarded for good environmental stewardship.
"We will continue to support farmers to ensure NSW continues to have a strong agriculture sector and prioritise its interests alongside those of our natural environment."
