AgCarE assesses agricultural properties for carbon and biodiversity offset opportunities, enabling landowners to improve the natural capital of their farms. By focusing on holistic land management, farmers can simultaneously boost food and fibre production while contributing positively to the environment.
Michael Guerin, interim CEO of AgCarE, emphasised the dual benefits of this approach: Strengthening food security can be done concurrently with improving environmental outcomes, the secret being baselining, leveraging, and investing in natural capital at a property and landscape level.
Through this partnership, WFI will offer premium reductions to customers who achieve AgCarE certification. The amount of savings will vary depending on factors such as the size of the property and the type of insurance coverage. Over the duration of a policy, these savings could amount to several thousand dollars.
Andrew Beer, executive general manager at WFI Insurance, highlighted the mutual benefits of the initiative: In acknowledging the importance of holistic land management, we want to recognise customers who take a proactive approach to managing their risks and emissions by reducing their insurance premium.
This initiative not only rewards farmers for their commitment to sustainable practices but also opens up new revenue opportunities through potential carbon and biodiversity credits. By integrating environmental stewardship with financial incentives, WFI and AgCarE are setting a precedent for the future of farming in Australia.
Farmers interested in this program are encouraged to contact AgCarE for certification details and consult with WFI Insurance to understand the specific premium reductions applicable to their policies.
