A recent study has found that it would require $15.6 billion annually for 30 years to prevent the extinction of 99 key species in Australia. The findings emphasize the critical need for increased financial support to tackle issues like habitat loss, invasive species, and climate change.
A recent study has found that it would require $15.6 billion annually for 30 years to prevent the extinction of 99 key species in Australia.
This study was conducted by Griffith University’s Centre for Planetary Health and Food Security, in collaboration with WWF-Australia and the University of Queensland, and it underscores the pressing need for more resources to address threats like habitat loss, invasive species, and climate change.
Over the last three centuries, Australia has already lost over 100 native species, making it a leader in the global extinction crisis.
The Australian Government has pledged to reverse the decline of 110 priority species.
This study specifically analyzed the funding required to prevent the extinction of 99 of those species.
Dr. Michelle Ward, the lead author, noted that while the proposed annual funding of $15.6 billion could help avert the imminent extinction of numerous endangered species, some, particularly many frog species, are already deemed non-recoverable, primarily due to climate change.
“Species like the Mountain-top Nursery Frog and Swan Galaxias are particularly concerning and will require active ex-situ conservation efforts,” Dr. Ward mentioned.
The research estimated that reversing the decline of priority species and mitigating the effects of habitat loss, diseases, and other threats could cost approximately $103.7 billion each year, while completely removing these species from the endangered list would necessitate $157.7 billion annually.
Dr. Romola Stewart, a co-author and WWF-Australia’s Head of Evaluation and Science, stated that the study reveals the true financial implications of ineffective environmental laws and insufficient funding for species protection.
“The increasing number of threatened species in Australia is a direct consequence of decades of underfunding,” she explained.
“Reversing this trend will require a significant uptick in action and resources.
“This is feasible for a prosperous nation like Australia.
“If we neglect to set our wildlife and natural areas on a course for recovery, both our economy and environment will be adversely affected, leading to more species quietly approaching extinction.”
The study also pointed out the broader advantages of investing in conservation, which include benefitting 43 percent of other threatened species and enhancing ecosystem services crucial for human health and well-being.
“The natural world is experiencing significant changes,” Dr. Ward remarked.
“Loss of biodiversity and ecosystem collapse are ranked by the World Economic Forum as the second most critical global risk in the next decade, with half of the global economy reliant on nature.
“While there is value in the Australian Government’s commitment, immediate action is crucial.”
