Australia’s ecosystems contribute at least $85 billon in value to the national economy, according to a first-of-its-kind report.
The Australia Bureau of Statistics (ABS), working with Department of Climate Change, Energy, the Environment and Water (DCCEEW), have issued the first release of an experimental National Ecosystem Accounts.
ABS Head of Environment Statistics Jonathon Khoo said the new data showed that in 2020–21, climate regulation through carbon storage was the most valuable service provided by select Australian ecosystems.
Mr Khoo said the new information provided insights across four account types which aligned to the international System of Environmental and Economic Accounts.
“Ecosystems are difficult to measure and over time, modifications will be made to the methods,” he said.
He said in 2020–21, five Australian ecosystem services provided at least $85 billion to support the Australian economy and wellbeing, including:
- 34.5 million kilotonnes of carbon storage. This was valued at over $43 billion.
- 58.8 million megalitres of water. This was valued at $1.4 billion.
- Mangroves protected 4006 coastal homes. This protection was valued at $57 million.
- Saltmarsh protected 566 coastal homes. This protection was valued at $8 million.
- 56.3 million kilograms of wild fish were caught by Commonwealth fisheries. This was valued at $39.2 million.
- 111.2 million tonnes of forage for grazing beef cattle and calves or sheep and lambs. This was valued at $40.4 billion.
“The ecosystem which contributed the most to carbon storage was grasslands, with $18.1 billion. This was followed by native forests which contributed $17.8 billion, and savannas which contributed $7.1 billion.”
Mr Khoo said climate regulation was one of many ecosystem services measured in this release, with other services include grazed biomass, water provisioning and wild fish provisioning.
“The new experimental estimates also reveal how much our natural landscapes protect our coastlines.
“Ecosystems like coral reefs, sandbanks, dunes and mangroves act as a buffer against tidal and storm surges.”
