The joint pact was announced at the COP15 summit, a global biodiversity meeting that will determine the future of global nature protection and conservation.
Environment and Water Minister Tanya Plibersek has signed an agreement with the US that will result in the two countries working together to put a price on nature.Federal Environment Minister Tanya Plibersek and Independent Senator David Pocock were among an Australian delegation to fly to Montreal, Canada, ahead of the weekend, when some of the biggest decisions will be made.
Australia is working on how this approach to natural capital will be factored into the economy, while the US has set a goal of including natural capital in its national accounts by 2030. This decision is just one of many that are likely to emerge in the coming days from the COP15 summit.What is COP15?
But she’s hoping the arrival of environmental ministers this weekend will move things along. O’Shanassy says the natural capital announcement on Friday was a step in the right direction.“Businesses use nature because it is valuable, but nature is being damaged because businesses tend to think of it as free. Valuing nature is important,” she says.
Rachel Lowry, WWF Australia’s chief conservation officer, says while people are aware this summit will determine the future of nature and biodiversity, their common goal seems to have fallen victim to different political views.“Negotiations have been painstakingly slow. Whilst the pace is frustrating given negotiations leading up to this event have been taking place for two years, it’s the lowering of ambition that can’t be tolerated.
Pocock said Australia needs to do a lot more to protect its declining biodiversity. “Australia is one of just a handful of megadiverse countries but our amazing landscapes and wildlife are under huge pressure. We have an opportunity to turn things around and better look after them,” he said.
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