Media Release: Completion of Natural Capital Accounting Project

Perth, WA – 27 August 2024 – Perth NRM proudly announces the successful completion of its innovative project, “Measuring On-Farm Natural Capital in Western Australia,” in partnership with Integrated Futures, funded by the WA Government’s State NRM Community Stewardship Program and through the Commonland Foundation. This ambitious initiative, which began in 2020, marks a significant advancement in how Western Australian farmers can assess and manage natural capital on their farms, fostering enhanced environmental performance and sustainable land stewardship.

Perth NRM, a collaborative organisation working alongside federal, state, and local governments, community groups, academics, and the corporate sector, has been at the forefront of addressing environmental challenges through evidence-based research and strategic natural resource management. Our mission aligns with achieving economic, environmental, public health, and social outcomes that benefit all stakeholders and contribute to the long-term sustainability of agriculture, supply chains, and the environment in Perth and throughout Western Australia.

The “Measuring On-Farm Natural Capital” project aimed to develop a robust framework for WA farmers to measure and track changes in their natural capital over time. Building on insights from the pilot Natural Capital Accounting Learning Case Studies (NCALCS), this project provides farmers with detailed Natural Capital Accounting (NCA) reports and a comprehensive database platform. These tools enable farmers to make informed management decisions, enhance communication of their environmental performance, and ultimately improve their land stewardship practices.

Key outcomes of the project include:

• Development of Detailed NCA Reports: Participating farmers now have comprehensive NCA reports to use as a baseline for ongoing measurement, monitoring, and management of on-farm natural resources.
• Creation of a Database Platform: An interactive database platform has been developed, allowing farmers to evaluate and manage their natural capital and monitor changes over time.
• Increased Awareness and Understanding: The project has enhanced the industry’s capacity to understand natural capital and NCA, and its influence on farm performance and ecosystem co-benefits.

The project involved 645 surveys across 20 farms, covering a total area of 30,968 hectares. Key findings include:

• High Ecological Integrity: 2,326 hectares of ecosystems were identified with high ecological integrity, indicating well-managed and near-pristine conditions.
• Land Use: Sown pastures covered nearly 12,000 hectares, exceeding the 11,028 hectares used for cropping, with minimal exotic woody vegetation suggesting a preference for native flora among farmers.

In addition to the comprehensive NCA reports and database platform, Perth NRM has produced a summary report of the project that outlines the key outcomes, learnings, methodologies, and recommendations. This summary report is publicly available, offering valuable insights for future natural capital management and sustainable farming practices.

“This project represents a significant leap forward in how we measure and manage natural capital on farms,” said Keith Pekin, CEO at Perth NRM. “By providing farmers with the tools and knowledge to better understand their natural capital, we are enabling a more sustainable approach to agriculture that benefits both the environment and the community.”

Feedback from participants highlighted strong interest in NCA and the project underscores the need for larger datasets and further research into the economic value of natural capital and its impact on long-term resilience and prosperity.

The successful completion of this project will contribute to the development of a broader measurement and verification framework, essential for assessing natural capital condition and its economic contributions within Western Australia’s agro-ecological regions.

Perth NRM was also involved in the Farming for the Future project, which quantified the relationship between a farm’s natural capital, and its productivity and profitability.

For more information about Perth NRM’s initiatives and the “Measuring On-Farm Natural Capital” project, please visit https://www.regenwa.com/projects/natural-capital-accounting-project-with-west-australian-farmers/ or contact David Broadhurst, Perth NRM Senior Manager Sustainable Agriculture at [email protected] or on (08) 9374 3306.

This project was delivered in partnership with Integrated Futures and is supported by funding from the Western Australian Government’s State NRM Program and Commonland.

About Perth NRM

Perth NRM collaborates with various sectors to address environmental issues and promote sustainable natural resource management. Through strategic partnerships and evidence-based research, Perth NRM delivers solutions that support the long-term sustainability of agriculture, supply chains, and the environment in Western Australia.

Media Contact: David Broadhurst
Senior Manager Sustainable Agriculture
Perth NRM
(08) 9374 3306
[email protected]
RegenWA

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