PRIVATE REEF FUNDING SHOULD BE COUPLED WITH SIGNIFICANTLY INCREASED GOVERNMENT INVESTMENT AND STRONG LAWS

The Australian Government today released a prospectus, seeking sponsorship for conservation projects related to the Great Barrier Reef.

While no new money is being proposed beyond that already committed to by the Government, WWF-Australia welcomes the move as private sector investment is part of the solution for the future health of the Reef.

WWF-Australia spokesperson Sean Hoobin said it is well known that the Reef will need a much bigger investment, at least $2 billion more than current funding, if we want to achieve the shared goals in the Reef 2050 plan and fulfil our promises to the World Heritage Committee.

“At WWF, over the past 20 years we have helped leverage millions of dollars from the private sector and philanthropists who share our values and ambition for conservation across Australia and the region,” Mr Hoobin said.

“From experience, we have learnt that to ensure outcomes for the Reef, private money has to be put into programs that have clear milestones and scientifically measurable outcomes."

“Privately funded projects should be chosen strategically, and be scalable, as part of a bigger picture which includes significantly increased government funding and strong laws."

“The Reef needs the same level of investment that was seen for the Murray-Darling Basin, the cost involved is in the billions, not millions. Given the Reef will earn $30 billion over the next five years alone, this would be an important investment in Australia’s future.”

WWF-Australia Media Contact:

Daniel Rockett, National Media Manager