The work of The Western Australian Biodiversity Science Institute (WABSI) is informed by active engagement with stakeholders to identify end user knowledge needs and priorities.
WABSI’s consultations with government, industry and community end users in 2022 identified several emerging issues for Western Australian end users of biodiversity science, captured in the report Biodiversity knowledge priorities: Emerging themes from stakeholder consultation.
A key issue identified by end users was the challenge of measuring and valuing biodiversity, including how traditional knowledge and values are incorporated in biodiversity conservation.
A new program, Biodiversity Economics and Finance, commenced in 2024 to consider the end user issues, as well as global drivers and pressures for improved biodiversity outcomes – targets set by the Convention on Biological Diversity (CBD) Conference of the Parties (CoP) 15, i.e. the Kunming-Montreal Global Biodiversity Framework (KMGBF).
The program explores:
- how we understand, measure and value biodiversity
- mechanisms to finance biodiversity conservation, including emerging developments in biodiversity markets
- the nature positive journey
- nature-related Environmental, Social and Governance (ESG) reporting
A preliminary report, Assessing knowledge gaps in biodiversity economics and finance, was published in October 2024 and identifies knowledge gaps in biodiversity economics and finance to mainstream biodiversity in private and public decision- making.
The report takes a multi-pronged approach to identify knowledge gaps, undertaking:
- a systematic review of global literature
- a focused review of Australian and Western Australian literature
- stakeholder consultations to understand emerging issues, challenges, and knowledge gaps in biodiversity economics and finance
WANT TO ENGAGE WITH US?
Email us info@wabsi.org.au