Fortifying the financial and environmental capital banks in commercially grazed rangelands

Abstract

Commercial rangeland livestock producers manage a perpetual conflict. They must ensure that the financial and environmental elements of rangeland grazing remain concurrently robust, with neither borrowing excessively from the other. Successfully managing this financial and environmental tension requires sound financial literacy as it applies to pastoralism, an above-average knowledge of rangeland ecology, and intellectual and practical management skills. Achieving these competencies is the starting point for a truly sustainable rangeland grazing business. The degree to which these competencies are achieved is largely under the control of the people who manage the business. However, there are significant external influences that can impede progress towards better financial and environmental outcomes. In this paper, we draw upon more than 50 years of combined professional experience to present our definitions for financial and environmental sustainability, as they pertain to northern Australian grazing enterprises. We summarise what is currently known about the financial and environmental performance of the northern Australian beef industry, and highlight some of the current external factors that are potentially antagonistic to achieving sustainable livestock production. We conclude with a protocol that our most successful clients have used to achieve (and demonstrate) financial and environmental sustainability.