Natural capital in Australia is an important part of the country's economy and environmental health. The protection and conservation of natural capital is critical for the long-term sustainability of Australia's environment and economy. Establishing a better understanding of Australia’s Natural Capital can support a new generation of cost-effective environmental regulation, policy and reporting while underpinning the integrity and scaling of sustainable finance and investment. It can also be used to address ’blind- spots’ in social and economic assessment and decisions. As Natural Capital within the Australian context is at an early stage of implementation, the Hub aims to capitalise on the opportunities for rapid progress through national and international collaboration.
Building on the recommendations of ‘Making Nature’s Wealth Count’, a series of Dialogues on Natural Capital in Australia has been established in an effort to continue to build and share knowledge as well as to better inform legislative and policy reforms. Discussions will focus on natural capital and related topics, to better understand what sectors could affect Australian natural capital and discuss the relevance of natural capital, its loss, and damage in decision-making. These discussions are aligned to Australia’s recent national commitments and international pledges such as the Sustainable Development Goals, Convention on Biological Diversity, and High Level Panel for a Sustainable Ocean Economy.
Authors: Ben Milligan, Director at the GOAP, Eliza Northrop, Director at the Sustainable Development Reform Hub.
