Australia is set to host the inaugural Global Nature Positive Summit in Sydney on October 7, 2024, marking a significant step in addressing the urgent crisis of biodiversity loss and ecosystem collapse. This summit is particularly crucial as it highlights the economic implications of environmental degradation, with estimates suggesting that over half of the world’s economy—valued at approximately US$44 trillion—relies on nature [75db159f].
The summit aims to drive investment in nature and improve its protection, aligning with the global 30x30 target, which seeks to protect or restore 30% of land and waters by 2030. Federal Environment Minister Tanya Plibersek is expected to present the Nature Positive Plan during the summit, which includes proposals for environmental law reform and the establishment of a Nature Repair Market. This plan is designed to foster corporate partnerships and explore innovative finance models for nature investment [75db159f].
Optimistic projections suggest that by 2030, there could be a US$10 trillion annual business opportunity linked to nature-positive initiatives, potentially creating 395 million jobs globally. However, Australia faces significant challenges, including having 2,224 threatened species and being recognized as a deforestation hotspot. This underscores the urgent need for action to reverse the ongoing environmental decline [75db159f].
In the broader context of Australia's green economy, the country is also navigating a transition from fossil fuels to renewable energy sources, with clean energy sectors becoming increasingly vital for economic growth. Major players like the US, China, and the EU are leading the charge in promoting clean industries, while Australia is looking to capitalize on a $300 billion opportunity in the green economy, particularly in Southeast Asia [5d220b39].
As the world shifts towards sustainability, Australia's hosting of the Global Nature Positive Summit reflects its commitment to addressing climate change and biodiversity loss. The summit serves as a platform for international collaboration and strategic partnerships, aiming to leverage capital markets for environmental sustainability and drive positive change on a global scale [75db159f].