Sustainability Bites

There is no such thing as a free lunch

environmental accounts

Australia quietly released the national ecosystem account last week. Now we need to use them

Australia quietly released the national ecosystem account last week. Now we need to use them

Nature in Australia stored almost $60 billion worth of carbon in 2021–22! How do we know? Because this value was recorded in the country’s second set of ecosystem accounts just put out by the ABS. And they are open for everyone to see. You can look up your favourite ecosystem to see how it is doing in terms of its extent and condition, and the ecosystem services it provides. Here, Michael Vardon explains why these accounts are important and how we should be using them, and laments at how little attention they given.

We’re still not measuring our reliance on nature as we rush to boost productivity

We’re still not measuring our reliance on nature as we rush to boost productivity

Human economies are made possible through natural capital – stocks of land, fresh water, oceans, biodiversity and soils, among others. Farming isn’t possible without soil or water. Manufacturing isn’t possible without raw materials to convert into products. Service industries aren’t possible without reliable food. This may seem like stating the obvious. But what’s obvious isn’t always acted upon. At last week’s high-profile Economic Reform Roundtable, natural capital was conspicuously absent. At the table were bankers, unionists, housing experts and business groups – but only one environmental advocate, former treasury secretary Ken Henry. The government’s goals were to make the economy more productive and resilient and the budget more sustainable. The health of our natural capital underpins all of these.

The Blue Mountains – towards nature positive with natural capital accounting

The Blue Mountains – towards nature positive with natural capital accounting

The Blue Mountains rise to the west of Sydney, NSW. In the year 2000 it was included on UNESCO’s World Heritage register for its representation of the evolutionary adaptation and diversification of eucalypts in post-Gondwanan Australia. Those eucalypts are rich in oil, filling the air with a distinctive blue haze that gives the region its name. Earlier this month, the many environmental organisations and community groups with connections to the Greater Blue Mountains World Heritage Area came together for the Inaugural Blue Mountains World Heritage Conference. The meeting aimed to chart a way forward to ensure the protection and environmental stewardship of the globally significant landscape of the Blue Mountains. Michael Vardon was invited to speak at the conference on environmental accounting. Here he shares his personal perspectives on how the goodwill and enthusiasm generated at this meeting might translate into enduring environmental outcomes. Our governments chant a mantra of ‘nature positive’ but without a framework like natural capital accounting, it’s little more than empty rhetoric.

A new government and a new environment minister – what now for Australian environmental policy?

A new government and a new environment minister – what now for Australian environmental policy?

While Labor lifted its game at the last minute with its environmental law reform policy, they can hardly be said to be environmental-policy high performers. So, what’s ‘on the record’ and ‘off the record’ for our new government when it comes to the Environment? What should our new environment minister prioritise?