Written by: Kimberly White
The Australian Government has announced that the inaugural Global Nature Positive Summit will take place in Sydney. The Summit aims to mobilize billions of dollars of funding to repair nature.
Co-hosted by the Australian Government and the Government of New South Wales, the Summit stems from the Kunming-Montreal Global Biodiversity Framework agreed upon by 196 countries during the United Nations Biodiversity Conference (COP15) in December 2022.
“Last year, the world came together in support of a nature-positive future. That means protecting the places that matter while also restoring environments that have been damaged in the past,” said Tanya Plibersek, Minister for the Environment and Water.
Dubbed the “Paris Agreement for Nature,” the Global Biodiversity Framework looks to supercharge investments in nature, with the goal of mobilizing $200 billion per year by 2030.
The Global Nature Positive Summit will bring together a global cohort of delegates, including Environment Ministers, environmental groups, First Nations peoples, businesses, scientists, and community leaders to discuss how to boost investments in nature regeneration projects.
The Summit will center around three key themes: transparency and reporting, investment in nature, and partnerships and capacity development.
Acknowledging the critical role government funding plays in protecting and repairing nature, the Australian Government stressed that public funding alone will not suffice and the private sector will play an essential role in achieving the goals of the Kunming-Montreal Global Biodiversity Framework.
“Turning the tide like this, from nature destruction to nature repair, will require a mighty global effort. We need government leading the way, but we also need the private sector, environmentalists, and First Nations groups all pulling in the same direction,” added Plibersek.
“That’s why we’re convening the Global Nature Positive Summit here in Sydney. We’re bringing the best environmental and financial minds to Australia to share our expertise and discuss how we work together to protect this planet for our kids and grandkids.”
The Summit aims to drive private sector investments and engagement in nature protection and regeneration, providing guidance for investors and project developers in an effort to foster partnerships and increase projects in developing nations. The Summit will highlight clear and consistent rules for the private sector to aid in the implementation of the Kunming-Montreal Global Biodiversity Framework.
The Global Nature Positive Summit is slated to take place in October 2024.