Ecosystem services - markets and opportunities for Australian grain growers

As part of our continued focus on sustainability, GRDC is investing in priority areas of RD&E that that will enhance economic sustainability and deliver environmental outcomes. This renewed emphasis on sustainability is reflected in the priorities for the GRDC 2023-2028 RD&E Plan, especially the ‘Thrive for Future Generations’ pillar (2018-2023 RD&E Plan).

Expertise is required to assist GRDC in the identification of the market drivers for the creation of environmental benefits on-farm, and the value of sustainability outcomes in capital/finance markets. There are a handful of grain growers already benefitting from ecosystem markets/incentives, and case studies will help others develop a clear compelling economic rationale for change including understanding the potential value pools attached to the market drivers. In collaboration with other primary industries, delivering land, water, and biodiversity benefits from farm operations is a priority, either as win-win or trade-off opportunities for production and environmental outcomes. This consultancy will provide expert advice and analysis to GRDC addressing the described Outputs. The analysis will assist GRDC in identifying further areas of RD&E and possible co-investment opportunities.

From an analysis of this area, coupled with potential RD&E, Australian grain growers will:

- Understand the value proposition of participating in ecosystem services markets (including the short and long-term economic and environmental changes and benefits)?

- Gain clarity on the obligations and associated costs, including accreditation and auditing, of participating in ecosystem service markets

- Have the capacity to incorporate decisions around these markets into their management decisions

- Understand how to participate in ecosystem services markets??

- Have clear guidelines on the farm management practices required to obtain the appropriate credentials (via certification schemes) to value their ‘sustainability’ activities

- Be able to demonstrate their environmental stewardship (incl. responsible use of inputs) and contribution to sustainability in the grains industry

- Maintain market access and competitiveness