Minister Creed announced details of a €20 million Beef Environmental Efficiency Pilot (BEEP) scheme earlier this week.
The Minister for Agriculture, Food and the Marine revealed that the BEEP scheme will be available to all suckler farmers.
He said that the BEEP scheme is an "important development" of the BDGP principle as it is “incentivising the collection of further data”.
"It is compatible with our climate change obligations which is really important," Creed stated.
The Minster said the main objective of the BDGP - which is being funded under the Rural Development Fund - is to make the suckler beef sector economically efficient and to reduce its carbon footprint.
"That is to get a smaller suckler cow; a bigger weanling; a cow that goes in-calf every year; higher fertility; a cow that has a good milk yield; a cow that is easy-calving."
He said that the new initiative announced as part of the Budget 2019 is about measuring weanling efficiency - the weight of the weanling relevant to the weight of the suckler cow.
"Weanling efficiency is a deficit in the data that we currently have and this will generate additional data that I think will accelerate the journey to a far more carbon efficient suckler beef herd."
He said that the main objective is to breed a smaller beef cow, therefore being more economically efficient, producing a bigger weanling.
The BEEF scheme will deliver a payment of €40/weanling, on the assumption of 500,000 weanlings participating, Creed outlined.
"In the event that there are greater numbers than 500,000 weanlings applying, some sort of self-selection criteria will have to be applied because the funding is €20 million." Minister Creed explained.