Australia announces $100 million initiative to protect our oceans
The Morrison Government will make an additional $100 million investment to continue leading the world and our region in how we manage our ocean habitats and coastal environments and contribute to the global task of reducing emissions.
"Our oceans are part of the lifeblood of our economy and this investment will secure those jobs and the important role our oceans can play in our efforts to cut emissions," the Prime Minister said.
The package will be delivered across four key areas of Australia's oceans management, implementing on ground actions to support Australian Marine Parks, expand the Indigenous Protected Areas into Sea Country, restore blue carbon ecosystems and protect iconic marine species. $39.9 million will go towards reinforcing Australia's position as a world leader in marine park management. The package will create regional jobs, engage coastal and Indigenous communities and the private sector, deliver actions to improve environmental outcomes for species and ecosystems, and provide a clear pathway for working with all sectors to realise Australia’s ocean potential.
The Government has also committed a new $59.9 million to develop a high-integrity carbon offset scheme in our Indo-Pacific region.
Minister for Energy and Emissions Reduction Angus Taylor said the scheme would be modelled on the Government's successful Emissions Reduction Fund to stimulate investment in high-quality projects that deliver offsets that meet the requirements of the Paris Agreement.
The investments are in addition to more than $1.1 billion the Morrison Government has this week announced it will invest in low emissions energy technologies such as hydrogen and carbon capture and storage, and is in addition to the $18 billion of investment the Government is making alongside the Technology Investment Roadmap over the next 10 years to drive at least $70 billion of total new investment in low emissions technologies in Australia by 2030.
Read the full media release here.