Rewarding soil stewardship

This project follows on from Dr Pawsey’s first Soil CRC project Collaborative approaches to innovation which identified that many finance stakeholders and growers accept the importance of good soil stewardship and its profitability and are interested in how it might be encouraged and rewarded.

However, to unlock investment in soils and to activate financial markets to reward soil stewardship, a few things need to happen. A stronger link between good soil stewardship and profitability needs to be demonstrated; connections between researchers, growers and financial markets needs to be improved and the soil science must be well translated to relevant finance sectors.

A three-stage approach involving grower groups (Birchip Cropping Group, Riverine Plains and WANTFA) and the finance sector (Deloitte and NAB) will secure outcomes that best reflect industry expectations. A range of potential mechanisms and pathways have been identified including loan schemes, risk assessment and other financial decision tools, government programs and policies, and insurance products.

It is important for farmers to be rewarded for their good soil stewardship.