Global capital to turbocharge a nature-positive future

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Mobilising global capital to turbocharge a nature-positive future for Australian agriculture

Meet Hugh Killen, the pioneer mobilising global capital to turbocharge a new nature-positive future for Australian agriculture

Hugh Killen says that by investing in natural capital over the long term, we can increase productivity, reduce input costs and create a more resilient farm for the future.

What’s fuelling more than $1bn investment in nature-positive agriculture? Managing Director of Impact Ag Australia and AgriFutures evokeAG. 2025 speaker Hugh Killen explains the changing economics of the farm, and how mobilising global capital can turbocharge a nature-positive future for Australian agriculture.

When Hugh Killen talks about the ‘farm of the future’, it’s about more than just using the latest agtech innovations to drive new productivity frontiers. It’s a deeper, bolder conversation about the way we value the farm business. And he sees natural capital as the key. 

“Traditionally, we’ve valued (or undervalued) nature as separate to the agricultural business. But to me, the farm of the future is about understanding the changing economics of the farm and how natural capital fits into that,” said Hugh, who heads up the Australian arm of specialist agricultural investment and development company Impact Ag Partners. 

In simple terms, natural capital refers to the resources (like soil, biodiversity, forests, rivers etc) that combine to deliver goods or environmental services to society. In agriculture, it refers to the free provision of services like water purification, pest control, and soil health. If nature’s ability to provide these services is degraded, external inputs become necessary to sustain food and fibre production. 

“By investing in natural capital over the long term, we can increase productivity, reduce input costs and create a more resilient farm for the future,” said Hugh. “But secondly, the emergence of natural capital markets means we can introduce complementary on-farm value streams to diversify and increase revenue across the farm business. That’s the farm of the future for me.” 

No environmental sustainability without financial sustainability 

Impact Ag Australia identifies, raises capital, invests in and manages properties across livestock, broadacre, irrigated and tree cropping – with a focus on building natural capital through nature-positive farming practices.  

Hugh explains the approach is to enhance capital return by looking outside of traditional agricultural value-creation. 

“We think about stacking nature-based solutions and nature-based returns on the farm, whether it’s soil carbon, renewable energy, biodiversity or, potentially if they come, product premiums.” 

RELATED: Dynamic and diverse group of industry leaders to headline evokeAG. 2025 

That’s achieved by optimising agricultural landscapes for nature and profit, something that Hugh said requires a long-term vision. 

“You might call that regenerative agriculture. You might call it responsible agriculture. But for us, it’s about adopting farming practices that can deliver a higher return, provide a higher gross margin over time, while building resilience and profitability into the system,” he said. 

It’s something that has struck a chord. Since launching in 2010, Impact Ag Partners has  almost 250,000 hectares under management in Australia and the United States, with $1bn in capital deployed into natural capital development.   

“The investors that are looking to come on board with us want us to innovate for real-world challenges. We’ve been at it for over a decade, and in that time, developed market-leading solutions for optimising natural capital in agriculture, and bringing it to life on farm. Some of the investments we are making now are significant in size; a testament to investor faith in our ability to make this transformation happen at scale,” said Hugh. 

Stud Beef bulls, cows and calves grazing on grass in a field, in Australia. breeds of cattle include wagyu, murray grey, angus, brangus and wagyu on long pasture in spring.

Hugh believes that regulation in global markets and demand for carbon credits is fuelling interest. 

“The markets are waking up to the fact that agriculture has a very strong role to play in decarbonisation and nature repair.” 

That is good news for investment in Australian agriculture. 

“I thoroughly believe that Australia has a unique potential – our farmers are highly innovative and that’s combined with a high-integrity compliance carbon market and regulatory regimes that accommodate growth and investment,” he said. 

Natural capital is much more than soil carbon sequestration 

Hugh advocates for expanding the conversation to include methodologies for biodiversity and nature repair markets.  

“Agriculture is always about postcodes: some farms are more productive than other farms, some farms can crop where others can’t – so your return on investment is different across Australia. It’s the same for natural capital and especially soil carbon,” he said. 

“We need to think about the opportunities that are open to parts of the country where soil carbon isn’t. Like environmental plantings for biodiversity credits.”  

RELATED: New carbon offering aims to accelerate a low-carbon future 

Hugh was recently named in The Australian Newspaper’s Green List and said it was an honour to be named among the country’s top 100 players in the environmental space, but even more significant to see several agricultural champions recognised. 

 “It underlines the growing recognition that agriculture can play a role in decarbonising the economy, and that’s a very important message,” he said. 

“We’re doing it domestically, using our own frameworks, with our own technologies and people within the landscape – this is a story we’ve got to yell from the rooftop, that Australian agriculture is productive, sustainable, and we can take it further by investing in natural capital.” 

Power of conviction needed to lead in sustainability 

Hugh was raised on pastoral properties in northern New South Wales and south-west Queensland and had a 25-year career in banking and global financial markets before becoming CEO of the Australian Agricultural Company (AACo).  

Along with steering the pastoral giant through a business transformation, drought, flood and the fall-out of COVID-19, Hugh led the development of AACo Sustainability Framework, the first of its kind for the beef industry. 

Something he’s taken from that leadership experience is the view that strategic decisions need to be backed by strong conviction. 

RELATED: Growing opportunities for natural capital: A new frontier for Australia’s agrifood sector 

 “If you think about regenerative agriculture more broadly, or natural capital projects, they’re complicated to implement and manage,” he said. “You need to have the power of your convictions backed up with the right science, the right financial modelling and the right purpose to drive it, because can’t change horses in the middle of the race. You’re there till the finish line.”  

Here Hugh gives us a glimpse into his world, and what he’ll bring to the evokeAG. 2025 table. 

Who has been the biggest influence on your career so far? 

Veteran red meat industry leader, David Crombie AM, and Chairman of dairy giant, Bega Cheese Limited, Barry Irvin AM. They have both been mentors, guides and sounding boards for me in different ways. Both are full of wisdom, generous with their time, and kind. 

What three words best describe your presentation style? 

You should ask that of the people in the audience! But I try to be engaging, clear, and confident. I value having a point of view. 

What’s one big question that keeps you up at night? 

How do we successfully navigate an increasingly hostile global agenda towards agriculture. 

Keen to continue this conversation? Hear from Hugh Killen, Managing Director, Impact Ag Australia; Michelle Gortan, CEO, Macdoch Foundation; Dr Susan Orgill, Soil Carbon Program Manager and Senior Scientific Adviser, Select Carbon, and Carly Burnham, Director, Bonnie Doone Organic Beef at evokeAG. 2025 in ‘Can agriculture save our climate?’ on Day 2 of the program.
View the full two-day program, including speakers and partners making evokeAG. 2025 possible. 

 

 

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