Stories of NRM
NSW Local Land Services has created a new program to help farmers and land managers navigate the complexities of natural capital and environmental markets.
NSW Local Land Services has created a new program to help farmers and land managers navigate the complexities of natural capital and environmental markets.
“What we want to do is help farmers and land managers understand their options- the pros and cons and costs and benefits associated with any participation in environmental markets.”
After a long slow burn, interest in natural capital and environmental markets has taken off in recent years, and many farmers and land managers are wondering what it means for them.
Claire Parkes, the Natural Capital Program Manager for NSW Local Land Services, said that LLS’s Natural Capital Support Services are there to help land managers understand natural capital, navigate the choices that might be available to them and incorporate natural capital into their existing farm and property management systems.
“Core to what we want to do is help farmers and land managers understand their options- the pros and cons and costs and benefits associated with any participation in environmental markets,” Claire said.
A new team of Natural Capital Advisors- one in each of the 11 LLS regions, enable farmers and land managers across the state to get consistent information, resources and advice on natural assets and environmental markets to support their decisions.
The program is unique to NSW, with the level of resourcing for natural capital extension and support services the highest in the country.
Regional NRM organisations have a long history as being a trusted source of reliable, independent information in regional Australia. The LLS program delivers extension, independent advice and referrals – LLS does not participate in market aggregation, project development or provide financial or legal advice.
“This is a rapidly changing area,” Claire said. “We’re learning as we go, and we’re attempting to be really transparent and conscious of risk.”
Initially, the program focus will be on developing partnerships and raising awareness – of both the services available, and what natural capital is and why land managers should care about it.
For many farmers the first step will be developing awareness of natural capital terms, and a broad understanding of what natural assets they might have.
Trading credits is not the only way to realise a financial return from managing natural capital, according to Claire.
“The other fundamental way of getting a return from management of natural capital is through increased productivity benefits,” she said.
Know what you’ve got
Identify your assets, your environmental and ecosystem services, and assess their extent and condition.
Know what is possible
What are the strategies a farm could consider? Trading credits is not the only approach.
Work out what to do.
Seek advice – the LLS Program can refer farmers outwards to get the legal & financial advice they need.
Take action
Manage the assets, monitor condition, measure and report – and hopefully realise a return.
NSW Local Land Services
Email: [email protected]
Website: https://www.nsw.gov.au/regional-nsw/primary-industries-nsw/natural-capital
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