The federal government is expected to adopt new methane reduction targets in the coming weeks, significantly expanding the nation’s green aspirations while boosting the prospects of Australian startups slashing emissions in the livestock industry.
The Albanese government is set to join US President Joe Biden’s global push to cut methane emissions 30% by 2030, a pledge which former prime minister Scott Morrison dodged at last year’s COP26 climate conference.
Speaking on ABC RN Thursday morning, Agriculture Minister Murray Watt voiced his personal support for the Biden-led plan.
“[It is] an aspirational goal from the world to bring down our methane emissions, which is something not only that I support, but that most farm groups support,” he said.
With COP27 set to take place in Egypt next month, the federal government is likely weeks away from a new methane reduction plan, on top of its overarching emission reduction goals.
That shift is likely to have a significant impact on Australia’s livestock sector, which produces almost 50% of the nation’s total methane emissions.
Those methane emissions are primarily the result of natural gases produced by livestock as they digest feed, and livestock eructation and flatulence — that is, farts and burps — pose a major challenge for Australian farmers committed to reducing their greenhouse gas emissions.
Tasmanian-based startup Sea Forest is one of several local players, including Perth’s SeaStock, AU-NZ-US partnership CH4 Global, and the CSIRO-backed Futurefeed project, hoping to address the problem with methane-reducing livestock feed additives.
Sea Forest grows and processes a type of red seaweed called asparagopsis into livestock feed additives. Studies suggest those seaweed-based feed additives can reduce final livestock methane emissions by up to 98%.
Companies testing Sea Forest products include dairy giant Fonterra, and Australian Agricultural Company, which controls Australia’s largest single cattle herd.
Now, the company says it is ramping up production to provide enough feed supplements for more than 500,000 cattle annually, a shift it claims will reduce the equivalent of 1 million tonnes of CO2 emissions from livestock each year.
Sam Elsom, CEO of Sea Forest, on Thursday welcomed the federal government’s move towards tighter methane emission targets.
“The federal government is setting a great example on cutting global emissions by signing up to the pledge,” Elsom told SmartCompany.
Sea Forest, which has previously booked $5 million in federal government grants and was a presence at the recent Jobs and Skills Summit, says its product offering could help Australia reach its forthcoming methane goals.
“We believe our product will go a long way in cutting emissions, without impacting the livestock industry or the quality of its product,” Elsom added.
Senior Business Journalist
Focused on the small business sector, David’s work covers the political, regulatory, and economic issues facing Australian entrepreneurs. Prior to joining SmartCompany, he was a reporter for Business Insider Australia. You can follow him on LinkedIn.
