Mission to map Australia’s biodiversity predicted to bring big economic benefits
A new report by Deloitte Access Economics has found every $1 invested in discovering all remaining Australian species will bring up to $35 of economic benefits to the nation.
The cost-benefit analysis of the value of discovering new species has never before been attempted in Australia. It comes as scientists launch a new mission to discover and document all Australian species that remain undiscovered and unnamed within a generation.
The 25-year mission being launched today is led by the Australian Academy of Science’s Director of Taxonomy Australia, Adjunct Associate Professor Kevin Thiele.
He says many Australians would be surprised to know that after more than 300 years of Western scientific exploration of Australia’s rich biodiversity, only 30% of Australia’s estimated 750,000 species have been named and documented so far.
“Without this mission, it’s likely to take more than 400 years to discover all remaining Australian plants, animals, fungi and other organisms. A 16-fold increase in the annual rate of discovery is required over the next 25 years to meet this ambitious goal.
