PHCC were able to support and attend a Natural Capital Accounting Workshop coordinated by RegenWA in Williams on July 25, which included Accounting for Nature® training. Natural capital refers to the natural assets and services that provide benefits and value to people, the economy and the broader environment (NECMI 2024*). Accounting for Nature® (AFN) is a transparent, affordable, verifiable and certifiable environmental accounting framework to inform better investment, policy and management decisions in natural capital. These include carbon co-benefits, green bonds, environmental offsets and impact investments (https://www.accountingfornature. org/).

Participants learnt how land managers, farmers and natural resource managers can develop an environment account for properties and regions using accredited methods and were stepped through the verification and certification process. The day concluded with a training exercise in the field to put theory into practice using one of the accredited AFN methods for vegetation condition in a strip of land adjacent to the Williams River. Gathering baseline data is the first step in developing a natural capital account. This can be done by individual land holders or contracted out to professionals, depending on the level of accuracy one wishes to attain.

The role Accounting for Nature’s environmental accounting framework may play in addressing the growing problem of corporate greenwashing was also discussed, with Dr Amanda Hannson (AfN capacity building and advisory manager) explaining that a globally recognised, transparent, standardised framework for verifying and monitoring environmental sustainability claims is crucial in holding big business to account.

*NCEMI – Natural Capital & Environmental Markets Initiative (https://www.ncemi.au/)

The NCA workshop was supported by the Australian Government’s National Landcare Program, the Landcare Farming Program is managed in partnership by Landcare Australia and the National Landcare Network.  Perth NRM inc. and RegenWA is powered by LotteryWest, the WA State NRM Office and the Commonland Foundation.

PHCC’s Sustainable Agriculture Facilitator position is funded and supported by the Australian Government as part of the Climate-Smart Agriculture Program.

We acknowledge the Noongar people as Traditional Custodians of this land and pay our respects to all Elders past and present