Federal Agriculture Minister Murray Watt said it was too soon to make a formal announcement but the pledge had his support.
Senator Watt said the global pact was “pretty much backed” by key industry groups as well.
“I would be comfortable if we were to sign up to this,” he told ABC radio recently.
Senator Watt denied the global pact would drive up food prices.
The minister ruled out following New Zealand by imposing a price on methane emissions, which has been labelled a ‘burp or fart tax’ on cows.
“It's more of an aspirational goal,” he said.
Federal Nationals leader David Littleproud warned meat prices would skyrocket as a result of the pledge.
“This is another blow to families who are really struggling right now,” Mr Littleproud said.
“We will not support a methane pledge, which is really just an attack on our farms and ultimately Australian families.
“I urge Labor to rethink this terrible idea and start helping Australian families, rather than hurting them even more.”
Senator Watt dismissed the remarks as “hyperbole and scare campaigns”.
“The industry wouldn't be looking at moving towards carbon-neutral meat production if they weren’t comfortable that the industry would be sustainable and viable,” he said.
Innovative Tasmanian seaweed producer Sea Forest welcomed the Federal Government’s pledge.
Sea Forest grows and processes a red seaweed called asparagopsis, to produce supplements in livestock feed, with trials showing they have a significant impact in cutting methane emissions and, as a result, contribute to the slowing of global warming.
Sea Forest chief executive officer Sam Elsom said major livestock companies currently testing Sea Forest’s SeaFeed supplements included Fonterra, Australian Agricultural Company and Rangers Valley.
“The Federal Government is setting a great example on cutting global emissions by signing up to the pledge and we believe our product will go a long way in cutting emissions, without impacting the livestock industry or the quality of its product,” Mr Elsom said.
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