With recent questions over the legitimacy of the Australian carbon offset scheme, it’s never been more important that carbon emissions are offset with legitimate credits and are free of greenwashing.
Unfortunately, few offerings in the market consider the natural environmental variables faced by the landowners generating the credits, and have the data transparency and accuracy required to inspire confidence that the investment is actually achieving its drawdown goal.
The farmer-owned credits are backed by extensive data collection and have been developed in accordance with the conditions, biodiversity and operations of each farm they’re provided by. Their transparency of data and the ability to directly purchase Eco-Credits from each farm means investors avoid the greenwashing associated with other carbon credit offerings.
ORICoop EO Carolyn Suggate said ‘All farms are assessed as to their suitability for the program, based on their existing farming practices, the area of the farm and the intentions of future management.’
“We don’t want producers to be at risk from any carbon credit program, to overstate their carbon drawdown, or to be exposed by a natural disaster or severe weather event should the carbon levels in their soil or biodiversity decrease,” Ms Suggate said.
These limits are a key part of the design- providing investor security, and lessening the risk of overstating any values, especially following farming challenges or natural disasters that can negatively impact soil carbon improvement efforts such as the extensive flooding occurring throughout NSW and QLD recently.
“Through a collective of the credits, ORICoop’s specialist advisory committee oversees each of the credit applications and validation reports. This includes assessing the management practices, the land management zones, the footprint of the farm business plus the soil testing and results. For each project we determine suitable buffers that enable producers to bank a portion of their credits – the credits are validated annually, and depending on buffer limits, a portion is liquidated at the producer’s discretion,” Ms Suggate said.
Each Eco-Credit represents 1 tonne of CO2 drawdown, in addition the credits represent measures each local organic producer has undertaken to actively improve soil carbon, water efficiency and biodiversity within their properties and farming practices.
Michael Coleman, Managing Director of Box Forest Consulting, said the costly setup and operating design of the ACCU market may be resulting in poor outcomes for both producers and investors.
“If it turns out that ACCU projects are not delivering contracted reductions, despite high costs of participation, that’s the worst of both worlds. Hopefully the regulator will improve market integrity, and not just by adding more layers of consultant reports,” Mr Coleman said.
“A simpler, more transparent certification process, with low verification costs, can also offer greater integrity. Certification gets done and reported in a way all users understand and accept. Voluntary Carbon Markets (VCM) should be designed with that in mind, which is what ORICoop has set out to achieve.”
Iain Smale, of Pangolin & Associates, said the Eco Credit will be popular for investors by providing other options for carbon credits which also offer a local impact, which is especially important given per-capita carbon emissions in Australia are amongst some of the highest in the world.
“With the Eco-Credit, you’re having a bigger environmental impact than just a carbon credit,” he said.
The environmental impact of our producer operations is key for Australian-owned organic dairy processor & manufacturer Paris Creek Farms. Paris Creek Farms’ Marketing & Communications Manager Alex Donovan said they are committed to increasing the sustainability of their operations, actively working with their producers to achieve this with Eco-Credits initially playing a vital part.
“With bio-dynamic and organic practices, we’re already using one of the most sustainable and regenerative methods of farming in the world, but we are striving to be even more sustainable. Our ultimate goal is to have our farmers generating their own Eco-Credits,” Ms Donovan said.
Ms Suggate said there are many ways the agriculture sector is transitioning beyond net-zero, and that collaboration to improve trust, legitimacy and the urgency for improving how sustainably we produce food is vital, especially after considering the ‘business as usual’ impact on the environment and the urgency of our changing climate as seen recently by some of the worst floods in history.
“We need science to be well funded to enable technology to be more accessible and trusted across the industry. This includes the measurement capability, satellite data, plus legitimate footprint data for farms across all commodities,” Ms Suggate said.
“In the meantime, our organic farming ORICoop members are dedicated to measuring and validating their soil tests and farm footprint. As their credits are validated, these producers form part of the organic farming ecosystem that invests into best practice, research and sustainability programs through a legitimate farmer-led carbon credit based on international guidelines,” she said.
“That includes soil carbon and biodiversity, rewarding producers for sustainable land stewardship practices, while offering these credits to businesses looking to offset their carbon footprint with legitimate credits that are traceable back to each farm that has generated them.”
If your business is committed to achieving net-zero, offset your carbon emissions directly with credits you can trust – register here now.
The first fully Australian farmer-owned carbon credits, the Eco-Credit, have just been released – with tangible benefits to local farmers, business, communities and the environment.
The Eco-CreditTM scheme was created by the Organic and Regenerative Investment Cooperative (ORICoop), which aims to unite the food value chain and increase the uptake of organic and regenerative practices across Australia by increasing collaboration between farmers, businesses and consumers.
Each Eco-CreditTM represents 1 tonne of CO2 positive emission drawdown, validated annually through rigorous testing, and are provided by ORICoop’s organic, net-positive regenerative farmers who run diverse farm businesses including dairy, cropping, livestock and mixed farming systems.
ORICoop EO Carolyn Suggate said that the Eco-CreditTM concept was developed by ORICoop in conjunction with farmers looking to advance farm system approaches to provide safe, secure and affordable food with a regenerative ecological impact.
‘The scheme links those farmers to external buyers, be that corporate, small business or Mum’s and Dad’s keen to play a role and do their bit in fostering sustainable practices and reducing their own carbon footprints’ Ms Suggate said. To activate carbon drawdown urgently we need all contributors to be empowered to participate.
Victorian farmer Stephen Whitsed is the first ORICoop producer to offer Eco-CreditsTM to the market, and aside from the environmental benefits can see immediate environmental, CSR, and other economic benefits for businesses, producers and local communities.
”It’s an environmentally-friendly credit that rewards organic producers and builds stronger connections between businesses and our on-farm practices that enable carbon benefits to be exchanged. As organic producers we are looking forward to demonstrating our on-farm practices that are increasing carbon drawdown and legitimise better environmental stewardship for the long term,” Mr Whitsed said.
Mr Whitsed said the Eco-Credit process is straightforward for farmers and ‘definitely beneficial’ to his farm and environmental management, and hopes investors will benefit from their transition beyond net-zero and the planetary impact.
“The validation process is through soil testing every year, including GPS points to ensure we soil test in the same place every year. Following that we send the soil samples to a laboratory to be tested, and wait for the results,” he said.
Farmer and organic industry advocate and researcher, Greg Paynter, sees a range of benefits the Eco-Credit scheme will provide, including environmental and ecosystem functioning, farm viability and improved social and mental health outcomes for farmers where stress is alleviated by the additional revenue stream provided by the scheme as a reward for best practice land stewardship.
“It’s a dividend that doesn’t come from production output, it comes from a different stream, the productive and regenerative capacity of the land,” Mr Paynter said.
“In Australia, we are striving for $100 billion worth of production from agriculture annually, but our understanding of the research that comes out of Canada, a very similar country to Australia, is they produce that amount, but 98% of it goes into the cost of production or services to provide that production, so the net profit or return on investment of effort is not very high,” he said.
“But if you value land stewardship and make it worth something, the production of food or fibre you get from the land is a reward and you do it in a manner of organic and regenerative production systems, that conserves the basis of the production system into the future. There is talk of only 60 harvests left in some places in Europe and the soil will be destroyed, so we need to act with urgency – and what the Eco-CreditTM does is offer an incentive to do something whilst still maintaining a living.”
Fourth generation Western Australian farmer and agroecological farm system advocate Mr David McFall said the Eco-CreditTM project links businesses who want to do better, and rewards practices to adjust to the changing climate that are not seen to be outwardly ‘commercial’, especially natural capital management like tree planting, increasing biodiversity and soil carbon and water works for habitat and land cooling.
“This is one mechanism that is farmer-derived and farmer-led. It ticks the boxes in terms of accessibility and linking people who have capacity with people who want to do things in the landscape,” Mr McFall said.
“It’s a journey we’re doing for very practical reasons, there’s farmers like Stephen Whitsed and myself who want to do better, but the ‘do better’ that’s asked of farmers is not necessarily an upfront conventional outcome. So this mechanism takes the risk out of the investment and becomes a shared journey as it connects people who want to see good done, but are perhaps urban-based or don’t have access to land, develop partnerships with a farmer,” he said.
“Each farmer is motivated at different levels, and the intelligence behind this system is that it’s not just carbon, it’s approaching it from an ecosystems services platform – that’s embracing revegetation, and in time will embrace cleaner water and air, and keeps toxic substances out of our food and agricultural production systems.”
Iain Smale, of Pangolin Associates, feels the release of the Eco-CreditTM will be popular for businesses, providing alternative options for carbon credits. He also expects they will raise awareness of the growing organic and regenerative agricultural industry in Australia working to capture carbon and mitigate the key drivers of climate change, which is especially important given per-capita carbon emissions in Australia are amongst some of the highest in the world.
“With the Eco-CreditTM, you’re having a bigger environmental impact than just a carbon credit,” Mr Smale said.
“Australia as a nation in the developed world has close to the highest per capita emissions. Per person it’s around 23-24 tonnes, NZ is around half that, and a lot of Europe is less than half that. It’s because Australia has two main drivers – we’re heavily reliant on fossil fuel, coal and gas generation and it’s the tyranny of distance – people have a lot of transport miles, including for heavy transport, trains and trucks, and we don’t have any high speed rail, so much of our economy is based on fossil fuel,” he said,
** To follow the Eco-Credit journey of this and other farms click HERE
Eco-Credits is a nationwide scheme open to organic and biodynamic producers. Other ORICoop farmers will shortly be stating their pledges and looking to develop partnerships with businesses and processors associated with their farm.
We know it’s been a rough year for many. We are rallying support in the last days of the financial year towards organisations that continue to ‘do good’ through these tough times. Here is our hot list for any tax deductible donations that align with your values …..
* Invest your funds to enable ethical and sustainable returns that don’t cost the earth
Could your business achieve Net-Zero by EOFY 2021?
We are urgently calling on all ethical, organic, conscious businesses to aim for Net-Zero by the End of this Financial Year. Let’s show some love for our planet! Here is how you can start your journey….
* Calculate your carbon and environmental footprint * Choose credits that align with your business values * Reduce your footprint through best practice sustainability
Our newly released Eco-Credits can help you achieve this – while directly benefiting organic producers that are increasing the carbon across their farm businesses. Key outcomes include:-
The Organic and Regenerative Investment Co-operative (ORICoop) is focussed on bringing together farmers, friends and businesses for the better. ORICoop exists to increase the productivity and profitability of organically and regeneratively managed land in Australia, while supporting farmers to be better land stewards of our ecological farming systems. We support organic and biodynamic farms to transition their agricultural businesses for the better. This builds a more resilient Australian food and farming economy that can change the way our farmers do business … for the long term.
WHAT IS THE CARBON FOOTPRINT OF YOUR BUSINESS?
We are excited to announce the creation of a direct Business-to-Farm carbon and ecological offset.
Bringing together farmers interested to drawdown carbon – and in the process offset the carbon footprint of business. Eco-Credits™ are a credible and definable instrument to measure ecological health, whilst enabling business to OFFSET their carbon footprint. A true WIN-WIN between conscious businesses and ecological farm stewards, that supports our planet for the long term better.
ORICoop has created Eco-Credits™ so conscious businesses and individuals can offset their carbon footprint, with direct, measurable and tangible outcomes. Eco-Credits™ are deployed to selected organic farmers who commit Eco-Credits™ to their farmland. These credits are independently and annually verified using the latest technology and measurement parameters. Each business receives a report provided by the collective of farm contributors each year – detailing what the Eco-Credit™ collective outcome has achieved in terms of carbon offset and ecological health.
Eco-Credits™ – ‘An ecological and farmer driven market instrument that offers a pathway to a stronger and more robust organic farming industry. That is empowered to withstand market pressures on farm production systems, together with sustainable and measured outcomes. Demonstrated via shorter supply chains, better food security, reliable market data, and a transparent market that enables farmers to achieve the best value for their work.’
Vitalise capital to connect business, food and farming for better long term outcomes
Enable farmers to benefit from the value of natural capital in their farming systems
Connect business and individual carbon offsets directly to farmers
Align with accredited stewardship measures and outcomes
HOW CAN FARMERS REGISTER FOR the ECO-CREDIT™ PROGRAM?
Farmers around Australia have a massive opportunity to draw down carbon into their farms both above and below ground through best practice ecological stewardship. Farmers can be rewarded for improving the land that they manage, and the carbon that is sequestered terrestrially via biodiversity enrichment and through an increase in soil organic carbon. Eco-Credits™ are deployed directly to organic and regenerative farmers – that are committed to increase the amount of carbon stored in their soil and to honour the value of water, soil, ecological health and biodiversity in their organic and agroecological farming systems.
Key measurable outcomes of Eco-Credits™ include:
Increase in sequestered carbon in soil, trees and biomass
Increase in biodiversity quality, area and ecosystem health