Free tool for farmers to assess their carbon potential

A joint initiative by AgriFutures and Australian Farm Institute, the online tool explains which carbon opportunities may be available for a producer, and encourages users to consider the potential benefits and costs of different carbon projects for their farming businesses.

AFI executive director Richard Heath said with so much noise about carbon opportunities, the key message of the tool was to know options were available.

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"As an essential ingredient for agriculture, reinvesting carbon back into farming systems is a win-win," Mr Heath said.

"There are plenty of pathways for this, so it's important to work out which one best fits your business's goals, capabilities, strategic plans and risk appetite."

Opportunities covered in the tool include participation in the Australian Government's Emission Reduction Fund or private carbon markets, access to sustainability linked loans and carbon neutral certification, as well as productivity gains.

"Carbon markets are a useful tool in promoting and rewarding sequestration, but they are not the only option," said Mr Heath.

"With sustainability reporting becoming mainstream, farmers will need to understand 'insetting' - keeping carbon credits to balance your own emissions ledger - as well as offset markets.

"And whatever you decide to do, remember that getting carbon back into your farming system is the ultimate goal."

AgriFutures managing director John Harvey said the investment aims to build producer capability to better understand the opportunities and risks in the increasingly complex but vital carbon space.

"Carbon is complex - understanding pathways is critical to success and AgriFutures has an important role in connecting rural industries to the latest insights so they can make informed decisions about their future," Mr Harvey said.

Speaking at the AFI round table, where the tool was launched, Agriculture Minister Murray Watt said sustainability was central to Labor's agenda for agriculture.

"It is one of the biggest opportunities and challenges facing the sector and it's past time our country had a government prepared to acknowledge that," Mr Watt said.

To use the tool, visit carbontool.farminstitute.org.au.