The Australian Climate and Biodiversity Foundation is delighted with the Queensland government’s $140 million commitment to its nature fund and is calling for bi-partisan support to establish the state as Australia’s central hub for natural capital markets.
On Sunday, The Miles government tripled its investment into its nature fund that will support landholders, farmers, regional economies and ecosystems through better access to carbon markets that needs to be guaranteed for Queensland through a matched commitment by the LNP ahead of next month’s state election.
“Queensland is increasingly being recognised as a leader in initiatives to improve natural capital,” ACBF chair Dr Ken Henry said. “This commitment enhances Queensland’s position as a leader in initiatives to improve natural capital. However, it must be a shared commitment for Queensland to realise its potential by unlocking new opportunities that will benefit agriculture, biodiversity while also dealing with climate change.”
Until now, barriers of entry have held-back businesses, farmers and landholders from participating in carbon markets that can transform regional economies in Queensland. This investment from the Queensland government supports Natural Resource Management groups to engage with landholders, enabling them to seize the opportunity to participate in carbon markets that will protect and preserve the state’s precious ecosystems, while also reducing net carbon emissions.
As one of Australia’s largest agriculture economies along with being home to the some of the world’s richest biodiversity, Queensland has a unique opportunity to invest in, and benefit from, carbon and nature markets. These will preserve some of the most beautiful landscapes in the world which also underpins a valuable tourism industry and sought after recreational lifestyle.
However, to ensure this thrives, a shared commitment is essential ahead of next month’s state election. ACBF is calling for the LNP to match this pledge to recognise the value of Queensland’s unique ecosystems as well as the chance for the state to lead Australia’s natural capital markets through the opportunity of a robust, high-integrity carbon market.
“This is the only pathway to securing prosperity for future generations,” Henry said. “The need for nature repair is urgent and we have an opportunity here to protect and preserve our rich biodiversity and ecosystems in a way that rewards landholders, farmers and regional opportunities. Queensland and Australia can not afford to let this slip from our grasp."
“ACBF is proud to have worked with the Queensland government and other stakeholders to develop this collaborative policy and we are pleased to see this supported by the commitment from the Miles government.”
The establishment of the Land Restoration Fund established Queensland’s reputation as a natural capital leader, and the state can become nature positive by 2030 through natural capital investment, empowering the state to host the first nature positive Olympic games. Sunday’s funding commitments is timely with Australia to host the inaugural Global Nature Positive Summit in October.
