What are Carbon Sync’s soil carbon farming KPIs?
Carbon Sync has outlined a comprehensive framework to measure the success of the soil carbon farming pilot project, with key performance indicators (KPIs) that encompass various dimensions of its impact. The success of the project will be evaluated based on the following criteria:
- Number of Farms and Hectares Undertaking Regenerative Agricultural Practices: A primary KPI will be the expansion of regenerative agricultural practices across farms in the South-West of Western Australia. The project’s success will be assessed by the number of participating farms and the total area under regenerative practices, indicating the adoption and scalability of these regenerative and future-proof farming methods.
- Amount of Carbon Sequestered: One of the pilot project’s core objectives is to sequester soil carbon. Carbon Sync will closely monitor and quantify the amount of carbon captured and stored in the soil through rigorous data collection and carbon accounting methodologies approved by the Clean Energy Regulator (CER).
- Improvement in Profitability and Resilience of the Farms’ Ecosystems: The project aims to enhance the sustainability and resilience of agricultural ecosystems. Key indicators will include improvements in soil health, water retention, biodiversity, and overall farm productivity. These factors will be measured against baseline data to assess the positive impact of regenerative agricultural practices.
- Economic Benefits to Rural Communities: The project’s success will also be evaluated in terms of its economic impact on rural communities. KPIs will include the creation of employment opportunities, increased income for farmers, and additional investments in the local agricultural sector.
- Environmental Co-Benefits: Besides carbon sequestration, the project may offer additional environmental benefits, such as reduced greenhouse gas emissions, improved water quality, and habitat restoration. These co-benefits will be considered supplementary KPIs to measure the project’s holistic environmental impact.
- Stakeholder Satisfaction and Engagement: The success of the pilot project will also be assessed based on the satisfaction and engagement of key stakeholders, including farmers and landholders. Regular consultations and feedback sessions will be conducted to understand the farmers’ perspectives and incorporate their insights into project improvements.
By evaluating these KPIs comprehensively, Carbon Sync aims to gauge the effectiveness and impact of the soil carbon farming pilot project. The data-driven approach, combined with a focus on regenerative practices and community involvement, will enable them to demonstrate tangible and meaningful contributions to the advancement of regenerative agriculture, carbon sequestration, and the well-being of rural communities in Western Australia.