The Commonwealth Bank of Australia has become the latest partner to team up with farm carbon calculator platform, Ruminati, in a project to assist producers measuring their net greenhouse gas emissions.
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The pilot program with CBA will give participating farmers tools to calculate their baseline emissions online, and model what changes in farming practices might mean for them.
The emissions calculator has been made available to a group of livestock and mixed farming customers in NSW, Queensland and Victoria as part of the first stage of the pilot.
Ruminati, which launched its online tool six months ago, also partnered with livestock finance provider, StockCo, in a two-year pilot program late last year, and has a similar project with the Australian Wagyu Association measuring the carbon footprint of Wagyu herds.
By gaining a better understanding of what causes their current emissions, farmers will be able to identify opportunities within their supply chain and on-farm to make practice changes which could achieve better economic and environmental outcomes.
Options could include changed grazing practices, alternative stocking rates, cover cropping, biodiversity corridors or practices which involve a reduction or change in chemical usage.
The Ruminati agreement follows CBA's investment in AgTech integrator, Pairtree Intelligence, last year.
That partnership aims to reduce complexity for farmers by providing seamless integrations with leading Agtech companies.
Ruminati co-founder and southern NSW farmer, Bobby Miller, said the partnership was underscored by the significance of the platform's technology being created by producers, for producers.
"Understanding the unique challenges faced by those on the land is at the core of our platform," said Mr Miller, from Gundagai.
"This project is not just about measuring emissions, it's about fostering a movement where producers can own their sustainability story and lead the industry towards a more resilient future from the ground up."
CBA regional and agribusiness executive general manager, Paul Fowler, said the Ruminati project further demonstrated CBA's commitment to support farmers as they built future-fit farming businesses.
"The conversation is shifting from curiosity towards intent and from intent towards action," he said.
"We want to support customers with access to tools and resources which help them make informed decisions, so they are well placed to take advantage of the opportunities to improve productivity and profitability with the benefit of enhancing natural capital."
The bank's agribusiness general manager, Natasha Greenwood, said in addition to being able to identify on-farm benefits and efficiencies, supply chains were mobilising around information that was important to them as they sought to meet their own climate commitments.
"Emissions measurement will also become increasingly important to strengthening ongoing market access, taking advantage of export opportunities and meeting supply chain expectations," she said.
"Our collaboration with Ruminati will help us support the sector, providing farmers with data and insights they can use and optimise opportunities within their own farming enterprise."
Ruminati's Mr Miller said the project was not just about measuring emissions.
"It's about fostering a movement where producers can own their sustainability story and lead
the industry towards a more resilient future from the ground up," he said.
"Farmers and graziers possess the capability to reduce emissions and enhance greenhouse gas sequestration, contributing significantly to mitigating climate change.
"However they require the necessary tools and capital to make a meaningful impact.
"This pilot project with CBA aims to chart a course where these tools and capital become accessible, eliminating barriers to proactive climate action."
He said working closely with Australia's largest bank had also provided sustainability insights from the institution's perspective and allowed Ruminati to fine-tune its approach.
CBA promotes a range of finance solutions to give customers options to invest in improving natural capital, business efficiencies and productivity, including its pioneering Agri Green Loan, Green Asset Finance, Sustainability-Linked Loans and the pre finance of carbon credits.
Andrew Marshall
Andrew Marshall is the group agribusiness writer for ACM's state agricultural weeklies and websites. He is a former editor at The Land and has worked in various Rural Press group roles in Canberra, North Richmond (NSW) and Toowoomba (Qld).
Andrew Marshall is the group agribusiness writer for ACM's state agricultural weeklies and websites. He is a former editor at The Land and has worked in various Rural Press group roles in Canberra, North Richmond (NSW) and Toowoomba (Qld).
