Why a CRC is needed
The Australian economy needs to quickly scale up efforts to decarbonise and conserve biodiversity, but faces the challenge of not fully understanding the possibilities and opportunities presented by a nature positive economy. The potential of carbon, biodiversity and other natural capital markets are growing and changing rapidly, yet the tools, access to finance and pathways through this transition are at best not clear, or at worst hard to trust.
The Nature Positive Economy CRC will support Australia’s transition by developing the necessary trusted tools, finance and systems to ensure meaningful, fair and lasting change, and will support the Australian Government’s legal and policy frameworks for this transition.
Our research will provide the science-based knowledge, mechanisms, and tools for organisations to confidently scale up their decarbonisation strategies and identify how suppliers of decarbonisation tools and carbon or diversity credits can best service this market.
We will provide financial organisations with the tools they need to prove their green credentials and will work with clusters of Australian businesses to develop case studies for these tools demonstrating how they can achieve commercial, environmental and social success.
The outcome of the Nature Positive Economy CRC will be capable and confident business communities ready to help Australia build a 21st century economy that achieves jobs and growth outcomes and positively impacts the planet and humanity.
Bridging the Carbon Gap & Addressing Biodiversity
The Carbon Gap
We are facing an urgent need to bridge the carbon gap. Our current targets indicate that an additional 34 million tonnes per annum (Mt pa) of carbon reductions are needed between 2025 and 2030, increasing to 1,000 Mt between 2030 and 2050. However, the market can currently offer only 15 Mt pa of carbon credits. This discrepancy not only highlights the need for swift action but also fuels growing scepticism that threatens market trust.
Carbon Targets & Current Supply in Agriculture
In the realm of agriculture, the agenda needs redefining to meet these targets. At present, the current supply of carbon credits from agriculture is insufficient, further emphasizing an urgency to scale-up efforts.
Extinction Rates & Ecosystem Health
We are experiencing extinction rates well above the global average for mammals, with 19 ecosystems on the verge of collapse. This trend signifies a sharp decline in our ecosystem health, another area where urgent action is required.
Vegetation & Ecosystem Targets
One potential target for improvement is to restore 13 million hectares of land in order to achieve 30% native vegetation coverage across all ecosystem types. Current trends show a sharp decline in ecosystem health when native vegetation coverage falls below this 30% threshold.
By aligning our efforts and focusing on these critical areas, we can close the carbon gap, protect our threatened species, and restore health to our ecosystems. Join us in making a measurable impact for a more sustainable future.
About Cooperative Research Centres
The Australian Government CRC Program provides grants to teams of industry organisations and universities with a high-quality program with high-impact research goals. The CRC program provides cash funding (up to 50 percent of the total CRC cost) to successful proposals that aim to “improve the competitiveness, productivity and sustainability of Australian industries”.
The Nature Positive Economy CRC will:
- Support investors to find $2B per annum of investable projects in the emerging nature positive economy
- Support innovative SMEs to rapidly develop and commercialise technologies that de-risk investment in nature positive projects
- Support communities, businesses and stakeholders to de-risk large scale projects that make a significant difference to carbon reduction, biodiversity conservation, and community well-being and prosperity
- Improve the credibility, trustworthiness and fairness of the nature positive economy
- Remove costs and scale-up projects that deliver nature positive outcomes
- Build the next generation of industry leaders who can grow the nature positive economy.