Earlier this week the SEAOAK team gathered over a morning coffee to share updates from the weekend. I brought the doom & gloom (and an oat milk latte) to the table when I shared that over the weekend I read some of Australia’s legendary surf breaks are at threat from climate change. This was troubling to read considering I’ve finally mastered my pop-up (it’s taken me over a decade!).
A study conducted by Griffith University and commissioned by Surfrider Foundation Australia, a not-for-profit organisation dedicated to the protection of Australia’s oceans and coastlines, projects that sea levels may rise up to 66cm by 2090, resulting in increased sea surface temperatures and changes in wave heights. Changes in wave height and water temperature can affect how waves break on the shoreline, altering the shape, power and rideability of the waves for surfers.
Of course, this isn’t just a concern for board riders. Rising sea levels will cause significant coastal inundation - displacing low-lying communities, destroying homes, and threatening important cultural sites. The tourism industry, deeply tied to the coast, is also at risk, Australia’s world-renowned marine environment contributes $69 billion annually to the economy, with surfing alone accounting for an estimated $2.7 billion. Without decisive action, global damages from coastal erosion could reach a staggering USD $1,000 billion.
Economic impacts of biodiversity loss
If Australia fails to address biodiversity loss, projections suggest that by 2050, the country could face an annual economic loss equivalent to a 1.43% decline in national income, primarily due to diminished coastal protection and other water ecosystem services.
On a positive note, reversing Australia's biodiversity crisis presents a significant economic opportunity. An analysis by EY indicates that adopting a nature-positive approach could boost Australia's national income by approximately AU$47 billion annually by 2050.
Protecting nature and biodiversity makes economic sense
The question is…who funds it? Unfortunately, we don’t have a straightforward answer to this that can be easily tackled in a short blog. However, we do feel privileged to be working with several forward-thinking businesses that are focusing on Nature-based Solutions because they want to contribute to a sustainable future and see the economic benefits.
Some of the clients that SEAOAK works with are focused on nature-based solutions:
a family-owned marine sports brand piloting bio-based materials to reduce its reliance on synthetic materials
an angus beef farmer that uses yabbies in his cattle troughs as a natural, cheap and effective water filtration system (note: no yabbies have inflicted wounds on cattle noses to date, but they do offer a great massage)
a dairy farmer that plants native trees to encourage pollinators; nitrogen fixing cover crops to increase soil carbon; and riparian zones to reduce water pollution and emissions from on-farm dams.
We are also aware of many other organisations doing incredible work with nature. Two of our recent favourite examples include:
Brookfarm utilises Trichogramma wasps to control the population of Macadamia Nut Borers, a pest that damages their macadamia nut crop
Ōvavo creates freeze-dried avocado powder from fruit that are too small or not pretty enough for retail sale
Uluu is creating high-performance yarn from seaweed to replace polyester, with the aim of helping the fashion industry become less dependent on fossil fuels.
The team at SEAOAK are hopeful that Australia will continue to prioritise biodiversity, being one of 188 countries to adopt the Kunming Montreal Global Biodiversity Framework (GBF). The GBF aims to halt and reverse biodiversity loss by 2030 via 23 targets.
If we are to meet Target 10 of GBF: 'Enhance Biodiversity and Sustainability in Agriculture, Aquaculture, Fisheries, and Forestry', we need better cross-industry collaboration to find solutions to mainstream biodiversity restoration.
Four sectors are responsible for 60-80% of global biodiversity loss - food and agriculture, buildings and construction, fibres and textiles, and forestry.
We're doing our part to support ecological restoration
Some of the ways that SEAOAK is helping our clients to adopt a nature-positive approach to business include:
Implementing nature-based solutions to minimise climate-related impacts
Nature-based revenue diversification strategies
Meeting evolving reporting standards, including ESG reporting, mandatory Australian sustainability (climate) disclosures, and science-based targets for nature
Driving more sustainable products and materials
Driving innovation through circular business models that support ecological restoration
If you would like to know more about the work we do, please get in touch!
Carli Davis
Chief Sustainability Officer
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