Sustainable Finance Roadmap welcomed, more action needed on nature 

The Australian Land Conservation Alliance (ALCA), Australia’s peak body for private land conservation, welcomes the release of the Australian Government’s Sustainable Finance Roadmap. 

The Roadmap sets out the Government’s intentions to elevate the importance of sustainability issues for big business and financial institutions. This includes improving transparency by requiring corporate disclosure of risks they face from climate change and improving Government oversight of systemic risks to our financial system from sustainability issues such as climate and nature. 

ALCA CEO Dr Jody Gunn said that Australian companies are aware of the risks that climate change brings to their business but are also becoming increasingly aware of their dependency on Australia’s declining nature. 

Approximately 50% of the Australian economy is moderately or heavily dependent on nature. The rapid decline of our biodiversity, coupled with our deep reliance on nature for our social and economic prosperity, means that the private sector also has to move quickly to manage risk from nature’s decline to their businesses.” 

We know from experience that increased transparency and disclosure in the corporate sector is an important step in mobilising serious action. We also need our financial regulators, including ASIC and APRA, to rapidly move from just ‘thinking about nature’ to ‘acting on nature’.” 

Today’s launch of Australia’s Sustainable Finance Roadmap follows closely on the heels of the passage of European laws that set targets to restore at least 20% of the European Union’s land and sea by 2030. 

The world is waking up to the pressing need to act to protect, manage and restore nature. Australia and the globe’s future prosperity relies on us rising to the challenge. The Sustainable Finance Roadmap is an important next step in recognising the role of business as deeply necessary to reversing the decline of Australian nature.” 

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