Environmental accounting certification gained by Queensland's Goondicum Pastoral

Goondicum Pastoral Co has received certification for its first environmental account, measuring the health of its natural capital under the globally leading Accounting for Nature framework.

The business is the first Australian family-owned grazing company to achieve a self-verified tier two environmental account using the framework.

Goondicum Pastoral Co director Nadia Campbell said conservation in farming was a critical path for the future and the adoption of environmental accounting in our practices helps to achieve improved outcomes for the environment as well as increased productivity and support export market demands, especially within the European market.

"Undertaking the environmental account has quantified the ability for us to demonstrate that a sustainable grazing enterprise can operate alongside a healthy ecosystem," Ms Campbell said.

"It allows us to lead a conversation and educate others about improving business not at the expense of the environment.

"It has provided enhanced disclosure in our operations and aligns to our values in ensuring natural capital is valued in our business transactions, within the larger economy and ensures we can leave a proud legacy for future generations."

Accounting for Nature chief executive officer Dr Adrian Ward said the certification of the Goondicum environmental account showed extensive commitment to their growing conservation credentials and the business should be highly regarded for the adoption of transparent and credible practices.

"To achieve a successful certification the environmental account must undergo rigorous activities including adhering to strict guidelines and processes, adoption, and specification of relevant natural asset class methods such as for soil, native vegetation and native fauna that are independently accredited by a panel of Australia's leading scientists, making up the Accounting for Nature Science Accreditation Committee," Dr Ward said.

"Accounting for Nature offers a tiered certification system to provide an easy identifiable label to support proponents' claims and protect the integrity and quality of the standard."

The self-verified tier two certification indicated Goondicum will need to update their environmental account at least every five years.

ALSO IN BEEF:

Ongoing reporting and measurement will track changes to the health of the environment and inform ongoing certification.

Goondicum worked with sustainability experts listed on the Accounting for Nature accredited experts registry to complete the milestone for their environmental account and identify baseline results.

Dr Ward said the Accounting for Nature framework offered a unique rating scale from 0-100 that simplifies the complexity of reporting change in the condition of the environment.

This rating scale called the Econd, which is combined with a Pcond to determine uplift in productivity, is assigned a confidence level rating which is the result of the collective genius of decades of robust development.

Information about the Goondicum environmental account can be viewed on Accounting for Nature's environmental account registry on its website, and a copy of the account summary can be requested here.