Report Shows Increased Value For Australia’s Natural Assets

Report Shows Increased Value For Australia’s Natural Assets

Australian Bureau Of Statistics

Australia’s Natural Capital Reaches $5,838 Billion

Victor P Taffa

The total value of Australia’s environmental assets or natural capital was $5,836 Billion at 30 June 2015, almost double the value of $3,000 Billion in 2006, according to a report released today by the Australian Bureau of Statistics (ABS).

These values have been generated using data sourced from major commonwealth and state government agencies according to relevant international statistical standards.

 

Mark Lound, Director of the ABS Environmental Statistics Section said Australia’s land, mineral, energy and timber resources added up to a high level of natural capital.

“Although we are not able to value everything in the environment at this stage, what we can value is still very large.” Mr. Lound said.

“Land now makes up 81 % of the value of Australia’s environmental assets and was valued at $4,722 Billion at 30 June 2015.”

“Natural capital is only one factor when considering the interactions between the environment and economy. There are some positive trends in how Australians have responded to environmental pressures while maintaining economic growth, but the news is mixed.” Mr. Lound said.

“While the economy grew by 71 %, water consumption dropped by 16 % between 1996-97 and 2013-14. However, waste generated in Australia grew at a much faster rate than the economy, increasing by 163 % between 1996-97 and 2013-14.”

“We also saw a growth of 31 % in the energy used in the Australian economy during this period, but as this was at a slower rate than the economy, energy intensity has fallen which is a positive sign.” Mr. Lound said.

“Despite growing by 20 % over the full period from 1996-97 to 2012-13, it is worth noting greenhouse gas emissions have fallen by 6 % since their peak in 2007-08.”