Australia's Environmental Groups Urge '1% for Nature' to Save Threatened Species
Environmental groups, led by WWF-Australia, are urging political parties and independents to commit to '1% for nature'. This call comes amidst alarming declines in threatened species and a dire State of the Environment report.
Australia's threatened species populations are dropping by over 2% each year. To halt this, WWF-Australia and allies propose increasing spending to 1% of the annual budget. Currently, the government allocates less than 0.1%, a mere fraction of the required amount.
The World Bank warns that Australia's current pace of nature loss could cost the economy $16.8bn annually by 2030. This is a stark reminder of nature's economic value, contributing about half of Australia's GDP.
Australia stands out as the only developed deforestation hotspot. To protect and manage the best 30% of its land and restore degraded landscapes, the country needs to invest around $6-7bn per year, a significant increase from the current 0.1% spending.
The last State of the Environment report painted a grim picture of ecosystem collapse and accelerating species extinctions. With the world's highest mammal extinction rate, Australia must act urgently. Increasing investment to 1% for nature can safeguard the country's biodiversity, economy, and future prosperity.
