Commonwealth Bank of Australia (CBA) has partnered with Ruminati, an industry-leading emissions platform, to provide agribusiness customers access to Ruminati PRIME. This new partnership signifies a significant step towards empowering agricultural producers to effectively manage and mitigate their environmental footprint.
Ruminati PRIME, equipped with an emissions calculator and scenario planner, allows agribusinesses to calculate their baseline emissions and simulate various farm activities. This functionality enables producers to strategize effectively, reducing net emissions while enhancing long-term resilience and profitability.
From July 2024, CBA will initiate a phased rollout of Ruminati PRIME, offering nationwide opt-in access to its agribusiness customers. The partnership will extend beyond accessibility, with CBA and Ruminati collaborating on developing innovative products and services tailored to support CBA’s customers in emission reduction efforts and risk management.
The announcement follows a successful pilot earlier this year involving a diverse group of livestock and mixed farming customers across Victoria, Queensland, New South Wales, and Tasmania. Pilot participants gained invaluable insights into their emissions profiles, fostering informed decision-making towards sustainable practices.
Various abatement activities were modeled during the pilot, with pasture and livestock management emerging as popular strategies among participants. These findings underscore emissions management strategies’ practical relevance and effectiveness within the agricultural sector.
Natasha Greenwood, CBA’s General Manager of Agribusiness, emphasized the significance of the partnership, stating, “Many of our customers tell us they want more information on baseline measurement and practices which can be adopted to build resilience, lift productivity, and enable them to demonstrate their sustainability credentials. CBA’s partnership with Ruminati will help solve this.”
Bobby Miller, Co-Founder of Ruminati and a farmer himself, highlighted the paradigm shift in emissions management within the agricultural industry. He remarked, “The results from our pilot with CommBank have really demonstrated the appetite producers have for tracking and managing emissions. They’re not just interested in emissions data - they’re digging into the Ruminati platform to understand ways to manage their emissions and make real changes on their property.”
With the CBA-Ruminati partnership set to unfold, the agricultural sector anticipates enhanced capabilities in emissions management, aligning with broader sustainability goals.
