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Repairing nature becoming as important a target for business as emissions: Plibersek

Sabra Lane:

In Australia, it’s estimated that we need to spend over a billion dollars a year to protect and restore nature. Are you able to quantify how much the Commonwealth spends right now per year to do that?

Well, it’s not just Commonwealth spending that’s important, of course. I mean, we increased spending in the last budget, we’ve got $1.8bn across budget years to invest in nature.

State territory, governments play a role. Philanthropists play a role, business plays some role. And again, we’re hoping that they’ll play a bigger role as we established our nature repair market.

Well, we already saw an increase in the October budget. And we determined not only to increase government funding, but to make it easier for others to invest in repairing nature as well.

The last report we saw on the interest from business in investing in nature repair market that is businesses prepared to look at around $137bn worth of incoming nature.

Australia has been playing a really positive role in negotiating the final agreement. We’ve really gone from environmental laggard to leader on the world stage.

One of the examples of that is the higher ambition statement that we worked out with Norway. A statement to give stronger protection to our oceans that’s been signed on to over the last 24 hours by 37 other countries so it’s just an example I guess is the kind of positive role Australia can play globally.