Climate Friendly has been awarded a $176,000 research grant from the Natural Resource Management Drought Resilience Program funded by the Future Drought Fund. The company’s research will investigate the link between carbon farming and improved drought resilience. The findings covering both the land-based (biophysical) and financial effects of carbon farming, will result in a formal guideline to be used by carbon farming participants. This will help them plan and include drought resilience into the design of their carbon farming project.
The results could be used to demonstrate good drought risk management to financial institutions or investors in accordance with TCFD requirements (Taskforce on Climate-related Financial Disclosures). The drought resilience guidance could also be a gateway to access other environmental markets.
“We have a body of anecdotal and data based evidence over many years from the 120-plus carbon farming projects we support. We strongly believe that there is a positive link between carbon farming practices and improved drought resilience. This grant means we can carry out the work evidence based research to test that link” says Zoe Ryan, Climate Friendly’s Executive Manager for Business Development.
The commonly used carbon farming activities that enhance biophysical drought resilience include regenerative grazing practises to maximise pasture productivity, increasing soil carbon resulting in landscape rehydration, and planting of shelterbelts to reduce evaporation in pasture, and provide shade and shelter for livestock. The income from carbon farming can also be used to strengthen financial drought resilience.
The demonstration projects implemented under the program will be located within the North West Local Land Services region in NSW. If the data supports the hypothesis of a positive link between carbon farming and improved drought resilience, then agricultural producers could be incentivised to implement long-term drought resilience activities through their carbon farming activities. Government and Natural Resource Management bodies would better understand how to embed drought resilience measures into the carbon farming framework, therefore resulting in improved value for money from Government drought resilience payments and the Emissions Reduction Fund.
Nigel Smith +61 491 638 615