Towards a framework for Australia’s Restoration Economy

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Renee Young, Owen Nevin, Stephen van Leeuwen, and Kingsley Dixon

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This year, in 2021, the world embarks on a great challenge, to restore hundreds of millions of hectares across the globe over the next ten years as a part of the UN Decade of Ecosystem Restoration (2021-2030). The commencement of The Decade aligns with UN Biodiversity Conference (COP 15) which aims to achieve global agreements of a new set of goals for nature over the next decade and deliver a framework with an ambitious plan to implement broad-based action to bring about a transformation in society’s relationship with biodiversity and to ensure that, by 2050, the shared vision of living in harmony with nature is fulfilled. Entwined in this is the inherent need to develop sustainable ‘green’ economies to support society. The restoration economy defined as ‘the market consisting of businesses, investors, and consumers engaging in economic activity related to restoration’ forms a critical component in achieving these goals. The market is rapidly growing in Australia, with major private, philanthropic and government investments driving large-scale restoration efforts, albeit rather haphazardly and without a coordinated and quality-controlled approach. A framework to inform Australia’s Restoration Economy is presented that is applicable across industries with benefits to people, climate, biodiversity, the economy and the environment (Fig 1). Critically this is presented in the context of a changing climate and applicability to all Australians including rural and indigenous communities where economic disparity is most pronounced.

Resource Type:
Conference Presentation, SER2021

Pre-approved for CECs under SER's CERP program