The most pressing problem we face is climate change, which is just the most glaring symptom of the ultimate threat to human existence: our continuing destruction of the natural environment [87a1d8ff]. Economists recognize the importance of 'natural capital,' which refers to the world's stocks of natural assets such as geology, soil, air, water, and all living things [87a1d8ff]. The extraction of non-renewable natural resources and the burning of fossil fuels have directly depleted the stock of natural capital and caused climate change [87a1d8ff]. The industrial rate of using ecosystem services has exceeded nature's capacity to regenerate, further depleting natural capital [87a1d8ff]. This depletion reduces the capacity of natural capital to provide critical ecosystem services and environmental amenity [87a1d8ff].
Former Treasury Secretary Dr. Ken Henry suggests establishing a public fund to encourage corporate involvement in protecting and repairing nature positive initiatives [87a1d8ff]. The cost of such efforts would be substantial [87a1d8ff]. The world's first global nature positive summit, hosted by Environment Minister Tanya Plibersek, is scheduled to take place in Sydney in October [87a1d8ff]. The summit aims to halt and reverse nature loss, restore environmental conditions, and ensure the well-being of future generations [87a1d8ff].
The urgency of addressing the destruction of the natural environment and supporting 'nature positive' initiatives is crucial for the well-being of future generations [87a1d8ff].