On May 8, business leaders from different sectors came together to listen to Federal Minister for the Environment and Water The Hon Tanya Plibersek MP and newly elected NSW Minister for Climate Change, Energy and Environment The Hon Penny Sharpe MLC. It was the first time that the two ministers have come together publicly to discuss the “Business of Biodiversity” and what it means to aim for a “nature positive” outcome. Joining the conversation as a moderator and host was economist and former Secretary of the Treasury, Dr Ken Henry.
The event was organised by the Nature Conservation Council (NCC), sponsored by Moir Group.
From controversial to essential
During the event, it was noted that environmental issues are no longer controversial in the business sector. Many factors have contributed to the corporate landscape changing – employees and consumers demanding better practices and the growing awareness that businesses can only operate efficiently in a liveable climate. As Minister Plibersek pointed out, the rise of the Teal independents, especially in wealthy suburbs, is an indication that the environment is top of mind for many business leaders.
7 key takeaways from the event
- NCC Chief Executive Officer Jacqui Mumford President shares that the koalas are at risk of extinction by 2050
- The 2023 Nature Repair Market Bill is a proposed bill that aims to shift the focus to restore and protect nature. The idea of “leaving the environment better off” is a change from current offset systems which have failed to safeguard endangered habitats and endemic species.
- In this proposed bill, offsets are to be made a last resort option, meaning they will only be acceptable after all other options have been exhausted.
- The bill will also encourage the private sector (businesses, philanthropic funding, etc) to invest in nature conservation. This, in turn, can significantly reinforce the government’s current efforts.
- It will aim to address the need to make it easier to connect people who want to invest in nature repair with farmers, land holders and First Nations communities
- For NSW, Penny Sharpe shares the Federal Government’s pledge to protect 30% of NSW’s nature by 2030
- Nature repair and protection initiatives should learn from and respect First Nation’s knowledge, wisdom, and understanding of Australia’s complex landscapes
Final Word
Minister Plibersek emphasised that every business relies on a stable and liveable environment. Moreover, we at Moir Group know that it is a precondition for attracting and keeping talent.
Both speakers and attendees shared many insights and ideas during the Q&A. One particular point of reflection was that today, businesses have the opportunity to pull their weight in pushing for better environmental policies and practices. Ken Henry called it a form of activism and perhaps the kind of activism needed to nudge decision makers in the right direction. NCC Chairperson Carolyn Loton added that “while we are in a biodiversity crisis, it’s a very positive step to see a collective ambition and will to start acting.”
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