Australia's green Wall Street' is failing to launch. Threatened species deserve better than the nature repair market | Euan Ritchie and Yung En Chee

"Environmental funding is set to decline from an already paltry 0.06% of the federal budget for on-ground nature programs to less than 0.04% in 2028-29. Even as it retunes its environment policy settings to favour business imperatives, the government is seeking to further absolve itself of its legal and moral environmental responsibilities by doubling down on a highly contentious and unproven nature repair market."

"One must ask why the federal government is so comfortable continuing to ignore the wishes of most Australians, and continuing to condemn our life-sustaining environment and wildlife to profound decline and destruction? National environmental standards were the centrepiece of the Environment Protection Biodiversity Conservation Act reforms in response to the scathing Samuel review."

"Their purpose was to improve environmental protections and guide decision-making by setting clear, demonstrable outcomes for regulated activities. At least these were the statements on the Department of Climate Change, Energy, the Environment and Water's website from January 2023 until April 2025."

"Yet, despite striking a deal with the Greens to pass the EPBC reform bill in December 2025, only two national environmental standards have been released for consultation and none h"

Environmental funding for on-ground nature programs is projected to fall from 0.06% of the federal budget to less than 0.04% by 2028-29. Policy settings are being adjusted to prioritize business imperatives while the government expands a nature repair market that is described as contentious and unproven. Public support for stronger nature action is high, with most Australians wanting more action and at least 1% of the annual federal budget dedicated to protecting, conserving, and recovering nature. National environmental standards under EPBC Act reforms were intended to set clear, demonstrable outcomes for regulated activities, but only two standards have been released for consultation and none have been finalized.

Read at www.theguardian.com