Carbon

QLD beef producers first to adopt environmental accounting framework

Beef Central, 25/08/2022

QUEENSLAND beef producer Goondicum Pastoral Co has received certification for its first Environmental Account, measuring the health of the business’s natural capital under the recently-launched Accounting for Nature Framework.

Goondicum Pastoral Co is the first Australian family-owned grazing enterprise to achieve a self-verified tier-two Environmental Account using the framework.

The standard is designed to protect the integrity and quality of brand claims around environmental management practises.

Owners Robert and Nadia Campbell run a grassfed EU-accredited Brangus cattle herd at the head of the Burnett River, near Monto.

In a statement, Accounting for Nature chief executive Dr Adrian Ward said the certification of the Goondicum Environmental Account showed extensive commitment to the business’s growing conservation credentials and should be highly regarded for the adoption of transparent and credible practices,

To achieve a successful certification the Environmental Account must undergo activities including adhering to strict guidelines and processes, adoption and specification of relevant natural asset class methods such as for soil, native vegetation and native fauna that are independently accredited. A panel of leading scientists make up the Accounting for Nature Science Accreditation Committee, Dr Ward said.

“The framework offers a tiered certification system to provide an easy identifiable label to support proponents’ claims and protect the integrity and quality of the standard,” he said.

Under its self-verified tier two certification, Goondicum will need to update its Environmental Account at least every five years. Ongoing reporting and measurement will track changes to the health of the environment and inform ongoing certification.

Goondicum has worked with sustainability experts listed on the Accounting for Nature accredited experts registry to complete the milestone for their Environmental Account and identify baseline results.

Dr Ward said the Accounting for Nature Framework offered a unique rating scale from 0-100 that simplified the complexity of reporting change in the condition of the environment.

“This rating scale called the ‘E-cond’, which is combined with a ‘P-cond’ to determine uplift in productivity, is assigned a confidence level rating which was the result of the collective knowledge of decades of robust development by leading scientific community members, and is what sets the Accounting for Nature standard apart from other standards, Dr Ward said.

Goondicum Pastoral Co director Nadia Campbell said conservation in farming was a critical path for the future, and the adoption of Environmental Accounting in her business’s practices helped to achieve improved outcomes for the environment, as well as increased productivity and supported export market demands, especially within the European market.

“Undertaking the Environmental Account has quantified the ability for us to demonstrate that a sustainable grazing enterprise can operate alongside a healthy ecosystem,” she said.

“It also allows us to lead a conversation and educate others about improving business not at the expense of the environment.”

“It has provided enhanced disclosure in our operations and aligns to our values in ensuring natural capital is valued in our business transactions, within the larger economy and ensures we can leave a proud legacy for future generations,” Ms Campbell said.

Accounting for Nature is a not-for-profit venture that provides a scientifically rigorous standard to create transparent and credible environmental accounts.

The Accounting for Nature framework is an internally recognised environmental accounting standard that can be used by any government, organisation or individual, who wants to understand whether actions are improving or degrading natural capital.

 

Information about the Goondicum Environmental Account can be viewed on Accounting for Nature’s Environmental Account Registry here 

A copy of the Goondicum Station account summary and information statement can be requested on Goondicum Pastoral Co’s website 

 

Source: Accounting for Nature

 

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  1. Peter Dunn, 25/08/2022

    Admirable. Impressive. Clearly, one example to be hoisted up the environmental flagpole.
    However, stepping away for a moment, is it logical to imagine that a majority of the entire industry has both the capacity and inclination to go down the same road?

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