New carbon offering aims to accelerate a low-carbon future

More and more Australian producers are interested in marketing not just the food and fibre they grow, but their carbon balance, too.

Yet, more than a decade since the Australian Government established the Australian Carbon Credit Unit scheme (previously known as Emission Reduction Fund) and five years since the first soil carbon credit was issued), adoption lags.   

For many, the complex methodologies and crowded ecosystem of service providers has muddied the waters – and left producers grappling with whose advice to follow, and what approach is the best to undertake.  

Stepping in to give us a clear line of sight is evoke^AG. 2025 Platinum Partner, Elders, whose Carbon Farming Service is the newest offering for one of Australia’s oldest agribusinesses.  

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Dave McKeon is head of Elders’ innovation and sustainable agriculture arm, Thomas Elder Sustainable Agriculture (TESA), and leads a team working to help producers measure and monetise the capture and storage of carbon in agricultural enterprises.   

“Elders’ carbon farming service combines our renowned agronomy and livestock production services with specialty carbon farming expertise, to help producers capture the opportunities from the heightened global focus on sustainability – and get rewarded for it,” explained Dave.  

Dave McKeon (centre) at evoke^AG. 2024. Image | Darren Wigley Photography.

But in an already busy marketplace, what sets the Elders offering apart?   

“It’s an upfront fee-for-service model,” explained Dave. “So, farmers are supported to own the project and keep the full benefit of the carbon credits earned, while also unlocking co-benefits such as enhanced biodiversity, improved soil fertility and soil health, reduced soil erosion and increased agricultural productivity.”  

Food + fibre first

With a 185-year history of supporting Australian producers, it’s not surprising that Elders is taking a farm-first approach to carbon.  

“When we’re having a carbon conversation, first and foremost we’re thinking about how we integrate any carbon farming activities into agricultural businesses,” said Dave.  

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“That means going through a discovery process with the producer around, ‘Why should you establish a carbon project? How do you establish it? How do you make good decisions for your agricultural business, and how does carbon farming fit into that?’” 

Producer-led carbon advisory helps graziers find the right project fit

At the heart of the Elders offering is producer empowerment – the same thing that drove Central Queensland grazier, James Henderson to co-found Isidore Agri + Eco Solutions.  

Having learned through an expensive vegetation carbon project the necessity of good advice, James teamed up with a fellow producer and an ecologist to form the low-cost independent advisory service. 

“Basically, a bunch of us got together and said, ‘We don’t like paying 30% of our credits to carbon project developers and aggregators. Because these veg carbon projects aren’t that hard, and once you know what to do and how to do it, you can manage it yourself easily.” 

“Over time, Isidore has morphed into an educational service where we provide advice about what your opportunity is, and how you can execute it,” explained James. 

“We help you get there by providing general advice, not a sales pitch. It’s probably not the most lucrative business model, but I call it the most genuine.” 

James Henderson, Central Queensland grazier and Co-Founder of Isidore Agri + Eco Solutions; Naomi Wilson, Head of Environment and Sustainability at Australian Agricultural Company; Dr Thakur Bhattarai, Thomas Elder Sustainable Agricultural (TESA), National Carbon Farming Technical Manager; and Dave McKeon, head of TESA, at BEEF2024 in Rockhampton, Queensland.

With so many variables at play, getting the right advice is key

While adoption lags, there are still enough projects underway to draw lessons around why some succeed, where others fail – locking producers into a long-term project that doesn’t work for them or their business.     

TESA’s National Carbon Farming Technical Manager, Dr Thakur Bhattarai, has worked for more than 20 years in carbon accounting, soil carbon method developments and on-farm practice change.  

The key thing he’s learned in that time?  

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“There are so many different carbon methods around soil and vegetation, all with different rules and requirements. And there are many options around the pathway: ‘Do you trade credits? Do you save credits? Or do you inset them against your own business emissions?’” asked Thakur.  

“With so many decisions in play, it’s critical you get the right advice on the methodology, project, and partners that are right for you.” 

James agreed.

“The thing that tends to go wrong, and the one that bothers me the most, is when producers don’t get enough advice at the start. They go with the first provider they found on Google and listen to the first person who answered the phone.”  

“But service providers tend to have a preferred methodology, which might not be best suited to your property, production system, or objectives. So, you end up using the wrong methodology, and picking the wrong project and practice change for your business,” he added.  

James also cautioned producers to get good advice on the contract.  

“Because the reality is, your local solicitor and your local accountant probably won’t have done enough of these to tell what the day-to-day management implications of that contract look like for the next 25 years.”  

In carbon sequestration projects, control is king

The first veg carbon project James signed onto – and the catalyst for the formation of Isidore – required him to yield 30% of his credits to the project developer as the fee for service. It’s a whack to not just his project return, but his autonomy.  

And to producers looking to develop a carbon project, James’ top tip is to learn from his experience, and ensure you keep your carbon credits within your control.  

“That way, if the market shifts, or the regulation shifts, you’ll have the ability to move those credits around as you see fit,” explained James.  

Elders, evoke^AG. 2024. Image | Darren Wigley Photography.

“If you don’t have control of your credits, you’re in a vulnerable position. And that’s something the banks are looking at now, too.”  

“It doesn’t matter if you want to keep the credits or sell them; that’s a personal choice. But you need control to make that decision.”  

Dave and the TESA team agree, and their fee-for-service model is a clear departure from the approach typically taken by carbon project developers. “We differ in that we aim to support farmers in controlling their own destiny through a project or other related services, rather than farmers being locked in someone else’s project and forgoing credits as part of this,” explained Dave.  

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“As the carbon market develops and prices rise, it will become increasingly important that farmers seek out trusted advice and ultimately make the call that suits your business.”  

Dave added that he’s enthusiastic about the net zero transition and the opportunities it presents our farmers and graziers.

“But the solutions need to be realistic about what’s possible; pragmatic about how it works within the context of the farm business; and farmer-first.”  

Elders’ Carbon Farming Service is an important step in that direction.    

Elders has returned as Platinum Partner for evoke^AG. 2025. Learn more about their Carbon Farming Service here.