Nature Repair Market will not repair nature at all

The Bob Brown Foundation rejects monetising Nature and the premise that establishing a Nature Repair Market is an ecologically effective, permanent, transparent, accountable way to halt and reverse biodiversity loss and environmental decline in Australia.

“A Nature Repair Market or Green Wall St is an extreme expression of failed neoliberal economics and should be dropped in recycling bin now,” said Christine Milne.

“No evidence has been provided that the proposed Nature Repair Market will halt or reverse the extinction crisis. Considerable evidence does exist of similar markets failing and resulting in further biodiversity loss, double dipping, rorting and poor governance,” said Christine Milne.
“Australia can afford to secure our land, water and ecosystems. If we can afford $358billion for submarines to prop up our defence alliance, we can afford to protect the land that sustains us and actually secures our lives. After the submarine deal, the Government can never say it does not have the money, it is a matter of choice,” said Christine Milne.

“Australians would prefer putting funds into protecting Nature and restoring ecosystems to stave off extinctions rather than putting it into the pockets of the rich through stage three tax cuts,” Christine Milne said.

Instead of wasting money setting up another complex dodgy offset market to advantage the offset developers, it is time to reject what George Monbiot calls, ‘ the Natural Capital Agenda: the pricing, valuation, monetisation, financialisation of nature in the name of saving it.” It does not work.

“The urgency of the Climate and Biodiversity Emergencies and the 6th wave of extinction demand direct and effective Federal Government action, the Nature Repair Market is not it,” Jenny Weber said.

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