Economic Resilience

Economic Resilience

Economic resilience is of paramount importance for the sustainability of Australian agriculture, as it serves as a vital safeguard against potential shocks and uncertainties in the sector. 

The Australian Agricultural Sustainability Framework (AASF) establishes a common set of sustainability principles crucial to the economic resilience of our vibrant and important industry. These Principles focus on stringent approaches to biosecurity and resilience to effectively mitigate and manage the impact of biosecurity threats, good governance through compliance with laws and regulations and ensuring fair market access, traceability, transparency and documented supply chains, demonstrating the industry’s dedication to eliminating unethical practices. 

Stringent biosecurity measures protect farms from pests and diseases and enhance Australia’s international trade reputation. Good governance ensures transparent and accountable management practices at farm, industry and government levels. Effective governance supports agricultural activities, encourages innovation and addresses emerging challenges, enabling farmers to adapt to market conditions.

Fair trading practices provide a level playing field in domestic and international markets. Equitable pricing and transparent supply chains benefit farmers, enabling them to reinvest, adopt sustainable practices and enhance their overall economic resilience.

By prioritising these Principles, Australian farms can strengthen themselves, foster growth and contribute to the nation’s prosperity.

Economic Resilience Categories, Principles and Criteria

Biosecurity & Resilience

P14. Biosecurity threats are assessed, mitigated and effectively managed in systems of continuous improvement

P15. Resilience is protected and enhanced by assessment, mitigation and management of risks

C32. Farms have systems in place to monitor risk, prevent and mitigate adverse impacts from biosecurity threats

C33. Industry has systems in place to monitor risk, prevent and mitigate adverse impacts from biosecurity threats

C34. Government has systems in place to monitor risk, prevent and mitigate adverse impacts from biosecurity threats

C35. Government and industry develop and extend overarching national scenario planning for industry risks

C36. Industry participants develop, implement and regularly review risk management plans

C37. Innovation and infrastructure are well-resourced and supported by government and industry, and can be equitably accessed by industry participants

Fair Trading

P16. Industry participants behave ethically and lawfully

P17. Supply chain accountability ensures a level playing field and the elimination of unconscionable conduct

C38. Compliance with applicable laws and regulations is demonstrated

C39. Fair access to participate equally in markets is ensured

C40. Zero tolerance for bribery or corruption is demonstrated

C41. Product provenance information is readily available via robust traceability

C42. Information asymmetry in the supply chain is eliminated where perverse outcomes are a risk

C43. Sustainability accounting is harmonised to ensure fair and just assessments of baselines and progress across the industry

Themes

The AASF is built around key themes that underpin the industry’s commitment to sustainable practices. These themes include environmental stewardship, which focuses on preserving natural resources, reducing emissions, and promoting biodiversity; people, animals and community, which highlights the importance of rural communities, fair labour practices, animal wellbeing, and maintaining food security; and economic resilience, which emphasises building robust agricultural businesses that adapt to changing market conditions while fostering innovation.

Together, these themes provide a comprehensive approach to achieving sustainability, aligning the agricultural sector with global standards and expectations while addressing the unique challenges and opportunities of the Australian context.