The Minns Labor Government is continuing work to future proof the NSW agricultural industry 'by investing $3 million to help farmers improve their farming operations, profitability and environmental sustainability through developing natural capital projects.
The funding will extend for another year the Government's Natural Capital Support Services program, which is providing tailored advice and support for landholders to explore natural capital and environmental market opportunities.
The program is part of the Government's plan to strengthen the state's $20 billion agriculture sector and to provide farmers opportunities to increase production while diversifying income streams.
In the past year almost 1,500 landholders and farmers have engaged with the NSW Government's 13 Natural Capital Advisors to raise awareness of the opportunities natural capital projects present.
In farming, natural capital refers to the stock of natural resources-like soil, water, plants, animals, and ecosystems-that farmers rely on to produce food, fibre, and other goods.
It's called "capital" because, like financial or physical capital, these resources provide ongoing benefits, but only if they're managed and maintained in good condition.
By investing in natural capital farmers may be able to access environmental markets and apply for biodiversity credits to generate a potential income from these projects.
The Natural Capital Support Services program is providing tailored advice and support for landholders to explore natural capital and environmental market opportunities.
Since July 2024, Local Land Services' 13 regional natural capital advisors have engaged with 1,198 landholders through 95 awareness-raising events, with 77 per cent of participants reporting increased knowledge of natural capital as a result.
The natural capital advisors have also undertaken an additional 287 one-on-one consultations with landholders across the state.
Local Land Services' natural capital advisors can help landholders understand what environmental market opportunities may be available to them.
Landholders are encouraged to contact their nearest Local Land Services office on 1300 795 299 or visit the website for more information.
Minister for Agriculture, Tara Moriarty said:
"The NSW Government is committed to working with farmers to futureproof their operations while protecting the environment during a time of rapid change.
"The growing interest in natural capital among landholders shows there is appetite for sustainably increasing production while diversifying income streams.
"Carbon farming initiatives can be rewarding in more ways than one for both the landholder and the environment, but we recognise these projects can require a significant investment of time and resources.
"That's why the NSW Government is continuing to invest in the Natural Capital Support Services program, run by Local Land Services, as part of our core business.
"The program provides tailored advice and support to landholders to help them understand the opportunities available to them and take advantage of these financial incentives."
Quotes attributable to Central West landholder, Ian Chapman:
"My take on natural capital is working with nature and managing the resources you have.
"Every day I make decisions towards this, such as grazing planning and tactics to ensure I have enough groundcover.
"I believe every land manager owes it to themselves and everybody to do as much as they can to improve the ecosystem processes.
"I'd always wanted to plant the trees, and I thought the carbon project was a good way to help financially with the establishment and it would produce more long-term production and income.
"Local Land Services helped us identify our native plant community type and I went to a few workshops and field days.
"At one stage we were having issues with waterlogged areas of the farm, and Local Land Services helped us come up with some solutions. It's a friendly face to run things past.
"It's hard work, and you need to have the inclination or the love of nature to do it, but with the right advice and support along with government incentives, it can be rewarding."
