WWF WELCOMES THE SENATE PASSING NATURE REPAIR LEGISLATION

The World Wide Fund for Nature-Australia tonight welcomed the Senate passing the Nature Repair legislation and holds high hopes for its safe passage through Parliament within the coming days.

“The world has seen a severe drop across wildlife populations since 1970, with Australia losing more species than most to extinction in recent history. Our nation’s response to this biodiversity crisis cannot be to continue as we are now, with ongoing underinvestment in nature,” said Rachel Lowry, WWF-Australia Chief Conservation Officer.

“A market to drive investment into repairing and restoring landscapes is an innovative step at a time when we need to try new things.

“The amendments to remove offsets, a controversial component from the start, were key to the legislation passing the Senate.

“Halting biodiversity loss and restoring degraded ecosystems requires stronger regulation of industry and substantial and sustained investment from both government and the private sector.

“A well governed Nature Repair Market, must be complemented by stronger environmental regulations and increased public spending, to help put Australia on the path to a regenerative and nature positive economy. 

“Australia must switch from being a global leader in nature loss, to one that is rising to the challenge of regenerating nature by 2030. The Nature Repair Market if rolled out with high integrity, can be an important stride forward.

“If the government can establish a Nature Repair Market, secure strong reformed nature laws and increase government investment alongside private investment, Australia can step onto the stage in October 2024 when we host the first Global Nature Positive Summit in Sydney and showcase to the rest of the world what it truly takes to rise to the nature positive agenda,” Ms Lowry said.