The construction industry (CI) has been a major contributor to carbon emissions in Australia. With the net-zero targets of 2050, all industries are required to adopt a multi-sectoral approach to reduce emissions. Nature-based solutions (NbS) have been adopted by various industries and have shown a promising potential to reduce carbon emissions in the CI. However, their implementation is hindered by challenges such as the absence of standardised policies, insufficient financial support, and limiting its application to nature-based organisations, as community work by considered as an afterthought. The practical application requires a Nature-based enterprise (NBE) approach to be incorporated into the CI. This research reviewed the existing literature to identify the current positioning of NBE in Australia and funding sources for NBE towards NbS support. The findings of this paper highlighted the gap in the presence of NBE research in CI and also discuss four key funding sources for NBE: public sector funding, private sector funding, market-based mechanisms, and innovative and blended finance. Each plays a prominent role depending on the nature of the construction project. This paper serves as a basis to identify a significant gap in the current presence of NBE in CI for supporting NbS and the funding options for NBE.

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Exploring Nature-Based Enterprises for the Australian Construction Industry

  • Muzna Anam,
  • Salman Shoostarian,
  • Nilupa Udawatta,
  • Tayyab Maqsood,
  • Heinz Schandl

摘要

The construction industry (CI) has been a major contributor to carbon emissions in Australia. With the net-zero targets of 2050, all industries are required to adopt a multi-sectoral approach to reduce emissions. Nature-based solutions (NbS) have been adopted by various industries and have shown a promising potential to reduce carbon emissions in the CI. However, their implementation is hindered by challenges such as the absence of standardised policies, insufficient financial support, and limiting its application to nature-based organisations, as community work by considered as an afterthought. The practical application requires a Nature-based enterprise (NBE) approach to be incorporated into the CI. This research reviewed the existing literature to identify the current positioning of NBE in Australia and funding sources for NBE towards NbS support. The findings of this paper highlighted the gap in the presence of NBE research in CI and also discuss four key funding sources for NBE: public sector funding, private sector funding, market-based mechanisms, and innovative and blended finance. Each plays a prominent role depending on the nature of the construction project. This paper serves as a basis to identify a significant gap in the current presence of NBE in CI for supporting NbS and the funding options for NBE.