With funding from the Australian Government, Cradle Coast NRM is partnering with Tasmanian Institute of Agriculture (TIA) with support from Fonterra and Dairy Tas to develop a natural capital account at TIA’s Elliott Dairy Research Facility. Using an Accounting for Nature framework to baseline natural capital values, the work will demonstrate the value for north-west Tasmanian dairy farms of considering and accounting for on-farm natural values and ecosystem services.
Natural capital accounts may be able to provide robust information about farms that can stand up to increasing scrutiny around the management of on-farm natural capital, changing financial reporting expectations and export market requirements and premium brand opportunities, as well environmental market opportunities. This project is one of two demonstrations launched under Cradle Coast NRM’s ‘Our Natural Advantage’ project.
