Sydney secures inaugural Global Nature Positive Summit

Sydney is to host the inaugural Global Nature Positive Summit in early October 2024 – a summit aimed at helping nations get the support they need to attract private investment in nature.

Federal Minister for the Environment and Water Tanya Plibersek notes "Nature protection and repair is a massive job. Government funding has a critical role to play. But we can't do it alone.”

It is estimated Australia needs to spend more than $1 billion a year to protect and restore nature.

Minister Plibersek adds "that's why the summit will focus on how to encourage private finance for on-the-ground nature repair projects, such as restoring mangroves, protecting waterways, and re-establishing habitat for threatened species.”

The Minister advised that the summit will be an opportunity for countries and businesses to share expertise to increase private investment in nature, to help funnel private investment to where it can make the biggest difference, and to help governments and business consider environmental impacts more clearly.

New South Wales Minister for Climate Change, Energy, the Environment and Heritage Penny Sharpe added “Australia is a world leader in advocating net zero and nature positive initiatives and we are delighted Sydney has been chosen as the host city for this historic event.

“The Sydney Summit will attract businesses, environment groups, scientists and government ministers from around the world and put Australia at the centre of this global transformation.”

The Global Biodiversity Framework agreed to by 196 countries at the United Nations biodiversity conference last year was described as the ‘Paris agreement for nature’. It set a target of US$200 billion per year of funding to be spent on nature repair by 2030.

The Summit will focus on three key themes:

• transparency and reporting – you can’t manage what you don’t measure

• investment in nature – growing business demand 

• partnerships and capacity development – increasing landholder participation

The Summit will highlight how clear and consistent rules will enable businesses to invest in and measure projects that repair nature.

Delegates will also consider how to support developing nations, boost First Nations partnership in nature repair and improve policies to increase investment in nature.

New South Wales Minister for Climate Change, Energy, the Environment and Heritage Penny Sharpe added “Australia is a world leader in advocating net zero and nature positive initiatives and we are delighted Sydney has been chosen as the host city for this historic event.

“The Sydney Summit will attract businesses, environment groups, scientists and government ministers from around the world and put Australia at the centre of this global transformation.”