Australia to host global Nature Positive Summit
Today, at COP15 in Montreal, I announced Australia will host a global Nature Positive Summit, to help supercharge private investment in protecting and repairing our environment.
Nature protection and repair is a massive job. Government funding has a critical role to play. But we can’t do it alone.
In Australia, it’s estimated we need to spend over $1 billion a year to protect and restore nature.
That’s why the Summit will focus on how to encourage private finance for on-the-ground nature repair projects, such as restoring mangroves, protecting waterways, and re-establishing habitat for threatened species.
Australia is leading the way in advocating for a net zero and nature positive world.
We recently announced our Nature Positive Plan: good for business, good for the environment to fix our broken environment laws and establish an independent Environment Protection Agency. We are also setting up world-leading Nature Repair Market to encourage and guide private investment in nature.
Australia has much to share, but plenty we can learn too.
The Nature Positive Summit will help all nations, especially developing nations, get the knowledge, tools and technical support they need to attract private investment in nature.
Many businesses want to invest in nature. Their customers, their investors, their staff, and their exposure to nature related risks demand it. Governments must work to make that easier, and help guide private investment to where it will benefit nature most.
The Summit will be an opportunity for countries and businesses to:
- Share technical know-how about what works to increase private investment in nature, to help us reach the goal of protecting 30 per cent of the world’s land and sea by 2030.
- Learn about the most effective nature protection and repair projects, to help funnel private investment to where it can make the biggest difference.
- Work together to better measure the economic value of nature to help governments and business consider environmental impacts more clearly, make better investment decisions, and move to a nature positive economy.
The Summit will support implementation of the Convention on Biological Diversity and the UN Framework Convention on Climate Change and it will build on Australia’s strong support for the International Taskforce on Nature-related Financial Disclosure.
The Summit will be held in 2024. I will announce the host city in coming months. It is expected to attract businesses, environment groups, scientists, and government ministers from around the world.
We will work closely with our Pacific family to ensure the Summit has strong representation from our region.