Australia invests $100 million to slow down climate change
The Government invests over $100 million for the global task of slowing down climate change by reducing emissions and managing ocean habitats and coastal environments.
As the world’s only island continent, the Government is aware that Australia’s management of its oceans and coastal environments will determine the success or failure of the world’s efforts to address climate change.
Thus, the $100 million investment package will target ‘blue carbon’ ecosystems such as seagrass and mangroves since they play a key role in drawing carbon out of the atmosphere. The package will also support Australian Marine Parks, expand the Indigenous Protected Areas into Sea Country and protect marine life.
Prime Minister Scott Morrison said Australia’s oceans economy not only supported 400,000 jobs and was projected to contribute $100 billion each year, but would also be key to Australia’s role in driving down emissions.
“Our oceans are part of the lifeblood of our economy and this investment will secure those jobs and the important role our oceans can play in our efforts to cut emissions,” Prime Minister Morrison said.
“This investment will boost the seagrass and mangroves that will help cut emissions and it’ll mean cleaner beaches, lower fisheries bycatch, more fish stocks, better protection for turtles and seabirds, and help for coastal and Indigenous communities reliant on the ocean for their livelihoods.”
“The investment will see effective action that provides direct benefits to Australians through growth in the tourism, research and fisheries sectors, as well as deliver significant environmental outcomes,” Minister for the Environment Sussan Ley said.
“I am so proud to see Australia continue its leadership in oceans. This announcement keeps Australia at the forefront of global leadership in oceans and marine protection.”
The $100 million investment package will be delivered across four key areas of Australia’s oceans management. It will implement on ground actions to support Australian Marine Parks, expand the Indigenous Protected Areas into Sea Country, restore blue carbon ecosystems and protect iconic marine species.
$39.9 million of the $100 million investment package will go towards reinforcing Australia’s position as a world leader in marine park management. Meanwhile, $11.6 million will be delivered over two years to incorporate Sea Country in Indigenous Protected Areas in nine locations. This is so as to provide Indigenous communities with enough economic and employment opportunities.
The other $30.6 million will be invested in practical action to restore and account for blue carbon ecosystems. This will improve the health of coastal environments in Australia and around the region and export Australia’s internationally recognized expertise in ocean accounting while boosting regional employment and enabling the accounting for the value of the habitats as blue carbon repositories.
The remaining $18 million will target practical actions to protect iconic marine species, improve the sustainability of our fisheries through reducing bycatch and stimulate investment in our oceans.
The investment package is said to create regional jobs, engage coastal and Indigenous communities and the private sector, deliver actions to improve environmental outcomes for species and ecosystems and provide a clear pathway for working with all sectors to realise Australia’s ocean potential.