Opinion Piece: The Importance of a Restoration Economy to Achieve Net Zero Targets
By David Lullfitz
Pressure is mounting to create a restoration economy in Australia as industry and governments grapple with reaching net zero emission targets by 2050.
As we have seen in recent months, the practice of revegetation and rehabilitation, carbon farming and greening initiatives are fast becoming an expectation of public and private organisations when it comes too addressing environmental issues and climate change. Organisations are hungry to ensure perceptions of their activity are acceptable – or exceeding expectation – in the race to meet emissions targets. In doing so more and more organisations are pinning their winning flag to improved environmental, social and governance outcomes. Appetite to implement measures to achieve better environmental outcomes has triggered a spike in demand for decarbonisation options.
As industries and governments collectively push towards meeting targets, we have an ideal opportunity to lean on Western Australia’s unique biodiversity and native vegetation as part of the solution. Using our own native flora, we can plant and promote revegetation across vast tracts of land, stimulating a strong restoration economy that is set to thrive.
It is encouraging the WA Government is taking action to support the restoration economy, recently announcing round two of the Urban Canopy Grant Program and getting closer to implementing the State’s first ever Native Vegetation Policy. Trade and industry bodies are also partnering with Government to accelerate outcomes and ultimately reduce emissions.
Last week the Minerals Research Institute of Western Australia brought together resources and energy sector representatives at its Net Zero Emission Mining WA Conference, identifying the need for direct involvement to support the energy transition and place WA at the forefront of significant economic opportunities. As global demand increases, industries adapt and innovation hastens, Plantrite is excited to be a key player assisting activation and participation in the energy transition.
We are proud to be contributing to the fast-growing restoration economy, advocating for biodiversity and tangible environmental outcomes in our own backyard.