Agriculture Minister Murray Watt said it was too soon to make a formal announcement but the pledge had his support.
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 on Thursday.
Watt denied the global pact would drive up food prices.
He 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.
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. We will not support a methane pledge, which is really just an attack on our farms and ultimately Australian families,” he said.
“I urge Labor to rethink this terrible idea and start helping Australian families, rather than hurting them even more.”
Watt dismissed the remarks as “hyperbole and scare campaigns”.
“We’re not planning to do anything that is going to have a direct impact on people’s prices,” he said.
“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.”
Local News Matters
Media diversity is under threat in Australia – nowhere more so than in South Australia. The state needs more than one voice to guide it forward and you can help with a donation of any size to InDaily. Your contribution goes directly to helping our journalists uncover the facts. Please click below to help InDaily continue to uncover the facts.