9 September 2024
Australia’s largest peak bodies representing private land conservation and responsible financial investment have teamed up to send a message to the Federal Parliament: now is the time to do a deal on Australia’s nature laws that delivers investment certainty and outcomes for nature.
Together, we welcome the report of the Senate Inquiry into the Government’s Nature Positive Bills and support the committee’s recommendation that the legislation be amended to allow for National Environmental Standards to be issued by the Government, and to ensure that the definition for ‘nature positive’ is consistent with international expectations.
The Responsible Investment Association Australia (RIAA) and the Australian Land Conservation Alliance (ALCA) recognise the importance of robust environmental law reforms for protecting Australia’s biodiversity, and the need to provide investor and project proponents with more certainty and consistency.
ALCA is the national peak body for organisations that conserve, manage and restore nature on privately managed land, providing key ecosystem services to the Australian economy.
The land conservation efforts of ALCA’s 19 member organisations have over 70,000 supporters and a combined annual turnover exceeding AU$325 million. They have influenced over 3 million square kilometres with more than 4,000 landholders.
RIAA is the largest active network of people and organisations engaged in responsible, ethical and impact investing across Australia and Aotearoa New Zealand, championing responsible investing and a sustainable financial system. RIAA’s membership covers 75% of managed funds in Australia and represents US$29 trillion in assets under management globally.
Australian investors are heavily engaged in nature opportunities. Among the regions covered by the Nature Finance Focus study conducted by Pollinationi, Australian investors reported the highest exposure to investments in nature of all regions, with 61% flagging investments in nature-based solutions and 57% in nature markets. Half of Australia’s GDP is moderately to highly dependent on natureii – a percentage on par with the global averageiii.
RIAA’s Co-CEO, Estelle Parker emphasised the financial significance of nature risks. “This is no longer just an issue for green groups and the environmental lobby. The penny is dropping in boardrooms everywhere: Nature represents a material financial risk to investments including those held in everyday Australians’ retirement savings. The environment must be protected through strong baseline environmental laws, which will level the playing field and provide certainty for investors.”
Estelle further added: “Strong environmental laws are good for investors and good for the economy. There is strong momentum globally by investors to understand, analyse and value assets on the basis of the management of nature-related risks. The information and data that the Environment Information Agency promise to help provide is needed to measure and report on nature-related risks and dependencies of assets.”
RIAA supports the establishment of an independent national body as it is crucial for the successful implementation of the National Environment Standard framework as part of environmental law reforms.
It is imperative that the reforms align consistently with these commitments and clearly articulate their adherence to international standards and agreements in the realm of biodiversity conservation. “The reforms must ensure cultural heritage protection including intangible heritage that is inclusive of Free, Prior and Informed Consent for First Nations peoples.”
ALCA’s CEO, Dr Jody Gunn, stressed the importance of progressing the law reforms before the Senate: “ALCA supports the establishment of an independent national body as crucial for the successful implementation of a National Environment Standard framework. An independent EPA must also be strong, transparent, and accountable to be effective.
“This body needs to be accompanied by a Biodiversity Investment Strategy from the Australian Government that can signal to investors what the national priorities are for responsible investment that can deliver for Australia’s nature.
“The delivery of these reforms must be accompanied by funding for comprehensive programs in order to synchronise the laws with action on the ground. “ALCA urges the Senate to rapidly progress the promise of a nature positive future for Australia.”
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ihttps://pollinationgroup.com/wp-content/uploads/2023/11/Pollination-Nature-Finance-Focus.pdf
ii https://www.acf.org.au/the-nature-based-economy-how-australias-prosperity-depends-on-nature
Media contacts:
Monica Haynes, ALCA Communications Manager
+61 428 411 499
Ada Tso, RIAA Marketing and Communications Manager
+61 481 308 718
About the contributors
About the speakers
9 September 2024
Australia’s largest peak bodies representing private land conservation and responsible financial investment have teamed up to send a message to the Federal Parliament: now is the time to do a deal on Australia’s nature laws that delivers investment certainty and outcomes for nature.
Together, we welcome the report of the Senate Inquiry into the Government’s Nature Positive Bills and support the committee’s recommendation that the legislation be amended to allow for National Environmental Standards to be issued by the Government, and to ensure that the definition for ‘nature positive’ is consistent with international expectations.
The Responsible Investment Association Australia (RIAA) and the Australian Land Conservation Alliance (ALCA) recognise the importance of robust environmental law reforms for protecting Australia’s biodiversity, and the need to provide investor and project proponents with more certainty and consistency.
ALCA is the national peak body for organisations that conserve, manage and restore nature on privately managed land, providing key ecosystem services to the Australian economy.
The land conservation efforts of ALCA’s 19 member organisations have over 70,000 supporters and a combined annual turnover exceeding AU$325 million. They have influenced over 3 million square kilometres with more than 4,000 landholders.
RIAA is the largest active network of people and organisations engaged in responsible, ethical and impact investing across Australia and Aotearoa New Zealand, championing responsible investing and a sustainable financial system. RIAA’s membership covers 75% of managed funds in Australia and represents US$29 trillion in assets under management globally.
Australian investors are heavily engaged in nature opportunities. Among the regions covered by the Nature Finance Focus study conducted by Pollinationi, Australian investors reported the highest exposure to investments in nature of all regions, with 61% flagging investments in nature-based solutions and 57% in nature markets. Half of Australia’s GDP is moderately to highly dependent on natureii – a percentage on par with the global averageiii.
RIAA’s Co-CEO, Estelle Parker emphasised the financial significance of nature risks. “This is no longer just an issue for green groups and the environmental lobby. The penny is dropping in boardrooms everywhere: Nature represents a material financial risk to investments including those held in everyday Australians’ retirement savings. The environment must be protected through strong baseline environmental laws, which will level the playing field and provide certainty for investors.”
Estelle further added: “Strong environmental laws are good for investors and good for the economy. There is strong momentum globally by investors to understand, analyse and value assets on the basis of the management of nature-related risks. The information and data that the Environment Information Agency promise to help provide is needed to measure and report on nature-related risks and dependencies of assets.”
RIAA supports the establishment of an independent national body as it is crucial for the successful implementation of the National Environment Standard framework as part of environmental law reforms.
It is imperative that the reforms align consistently with these commitments and clearly articulate their adherence to international standards and agreements in the realm of biodiversity conservation. “The reforms must ensure cultural heritage protection including intangible heritage that is inclusive of Free, Prior and Informed Consent for First Nations peoples.”
ALCA’s CEO, Dr Jody Gunn, stressed the importance of progressing the law reforms before the Senate: “ALCA supports the establishment of an independent national body as crucial for the successful implementation of a National Environment Standard framework. An independent EPA must also be strong, transparent, and accountable to be effective.
“This body needs to be accompanied by a Biodiversity Investment Strategy from the Australian Government that can signal to investors what the national priorities are for responsible investment that can deliver for Australia’s nature.
“The delivery of these reforms must be accompanied by funding for comprehensive programs in order to synchronise the laws with action on the ground. “ALCA urges the Senate to rapidly progress the promise of a nature positive future for Australia.”
--END--
ihttps://pollinationgroup.com/wp-content/uploads/2023/11/Pollination-Nature-Finance-Focus.pdf
ii https://www.acf.org.au/the-nature-based-economy-how-australias-prosperity-depends-on-nature
Media contacts:
Monica Haynes, ALCA Communications Manager
+61 428 411 499
Ada Tso, RIAA Marketing and Communications Manager
+61 481 308 718
