New advisory group to boost funding to repair and protect nature

The Albanese Government has today announced a new advisory group to encourage business investment in nature repair. 

Australians want to see our precious environment protected, and they want to see business play a role in doing that. Investing in activities that repair nature are a huge economic opportunity – we want to unlock that potential. 

The Nature Finance Council will be a platform for private sector collaboration and provide advice to the government to increase private investment in nature. It will also support businesses to better understand and embrace nature-related financial reporting.

Chaired by former Secretary of the Department of the Treasury Dr Ken Henry AC, the council will include finance experts, businesses, environmental scientists, and First Nations representatives.

Strengthening engagement between the public and private sectors on solving nature-related issues and investing in nature will be key themes at the Global Nature Positive Summit, being held in Sydney next year. 

Around the world expectations are increasing that businesses will report on the impact they have on nature and take steps to reduce any negative impacts.

The council will hold its inaugural meeting today and will guide the government’s support for a nature-positive future over the coming three years. The Council’s recommendations will be made available online following each meeting.

Quotes attributable to the Minister for the Environment and Water, the Hon Tanya Plibersek MP:

“We want to leave nature better off for our kids and grandkids.

“Nature repair is a huge job and we know that many businesses are keen to play a role, but they want to be sure that they are having an impact.

“Our new Nature Finance Council will strengthen our efforts to protect more of what’s precious and repair more of what’s damaged. I’m pleased Dr Ken Henry is bringing his considerable experience and passion to this role, to help develop new ideas and shape the future of nature repair. 

“Working alongside industry, scientists, environmental organisations and First Nations groups we will turn the tide from nature destruction to nature repair, ensuring that investments are really making a difference.

“The work of the Council will complement our world-leading Nature Repair Market which will make it easier for business and philanthropists to invest in activities that help repair nature while avoiding greenwashing.”