Address to Australia & the Pacific Ocean Business Leaders’ Summit 2026

*** Check Against Delivery *** Thank you all for the invitation to join with you all today. I’d like to acknowledge the Traditional Owners of the land on which we’re gathered, and pay my respects to their elders past and present. And I recognise the continued deep and abiding connection First Nations People have to Australia’s lands and waters.

I also acknowledge Ministers, Excellencies, partners and friends here today, particularly guests from our Pacific region who have travelled here for this event. As I said at the Breakfast event this morning - Pacific island nations are global ocean leaders and we are honoured to work alongside you. I’d like to thank Ocean Decade Australia for once again hosting such a wonderful event that brings together so many leaders and perspectives.

INTRODUCTION In our region, the ocean connects our people, culture and livelihoods. Like many of you, I’m one of the nearly 9 in 10 Australians who live near the coast and that percentage is reflected in many of our island neighbours. I love to swim – and occasionally fish or snorkel - in our beautiful ocean waters, I holiday at our coastal towns with my family and I get to enjoy that delicious seafood the ocean produces.

As Fisheries Minister, I had the privilege of working with many of you on how we can ensure this important industry builds a sustainable future. Now, as Environment Minister, I’m focused on how we can protect and restore our ocean ecosystems, to support those incredible marine habitats and the biodiversity for whom they are home, to generate the oxygen we breathe and absorb the carbon we produce.

As you have been discussing at this summit, the ocean quietly plays so many roles, in addition to its vital environmental functions. As a source of huge economic activity, that supports jobs and prosperity. A provider of food security for our region and the world.

Home to energy production that powers our homes and industry. A critical trade link, tourism destination and focus for our national security. A foundation for exciting and innovative research and science.

And of course, a place of enduring cultural value for our first peoples and the Pacific family. It’s for all these reasons that our Government is committed to seeing our ocean environment thrive and our ocean economy prosper. Not one or the other, but both.

I know that’s a view we share with many of you, because while there are a wide range of ocean interests here today, and it can be a contested space, we each rely on a healthy and sustainable ocean. THE OCEAN ENVIRONMENT CHALLENGE Now it’s no secret that the environmental challenge facing our ocean, like land-based nature, is significant, and that the impact of climate change is adding pressure every day.

Ocean warming is driving more frequent and intense marine heatwaves, placing stress on marine ecosystems and affecting key sectors such as fisheries, aquaculture and tourism. Up to 50 percent of our planet’s coastal ecosystems have already been lost over the last century, and our region’s coral reefs are being heavily affected. Pollution, plastics, illegal fishing and inappropriate coastal development also take a toll.

And when the ocean suffers, communities suffer too. Declining ocean health could cost the global economy more than $400 billion US annually by 2050, and $2 trillion by the end of the century. Here in Australia our ocean economy supports more than 700,000 jobs and delivers $200 billion per year in economic output.

So ongoing damage to our ocean would really hurt. We’ve seen it hit home, whether it be during last year’s devastating algal bloom in South Australia, or the distressing coral bleaching events on both sides of the country. So for environmental, economic and cultural reasons, we all have a strong interest in doing more to protect and restore our ocean environment, both at home and across our region.

WHAT WE’RE DOING Australians have a reputation for tackling challenges head-on, and in government, we have a leadership role, to do everything we can to help our ocean. Marine parks now cover more than half of Australia’s ocean, and 24 percent of that is classified as ‘highly protected’. We have committed to reach 30 percent as highly protected by the year 2030 and consultation on achieving that has started, with more to come.

Your engagement in this will be important. We’re home to some of the world’s most sustainable fisheries, with 85% of our fish stocks rated as sustainable or recovering. We’re continuing to invest in protecting and restoring the World Heritage listed Great Barrier Reef, with total Federal investment reaching nearly $4 billion since 2014-15.

Our government is also driving progress beyond our borders. We were proud to be among the first countries to sign the High Seas Biodiversity Treaty, also known as BBNJ, and in March this year, the Australian Parliament passed legislation to allow us to ratify it. As a result, we’re now preparing for the first generation of high seas marine protected area proposals and working closely with Australian interests and our regional neighbours to share expertise and gather the necessary science and data to inform any proposals.

Recognising the connection between ocean health and economic prosperity, Australia, together with Fiji and Palau, is a proud member of the High Level Panel for a Sustainable Ocean Economy – a group of world leaders working to set the direction for global ocean action – with a goal of 100 per cent sustainable ocean management. SHERPA ANNOUNCEMENT I’m also pleased to announce a new string in our bow on ocean protection.

Many of you would know the terrific role played by Dr Russell Reichelt, as Australia’s Sherpa to the Ocean Panel. I’ve had the pleasure of knowing Russell since his time heading the Great Barrier Reef Marine Park Authority and I thank him for fulfilling the Sherpa role with distinction. With Russell stepping down, today I can confirm Australia’s new Ocean Sherpa is Dr Tony Worby.

Tony joins us here today, and I’m sure many of you will already know him from his senior ocean leadership and marine science roles at CSIRO, Minderoo Foundation and the Antarctic Climate & Ecosystems CRC. Tony is highly regarded in the ocean community at home and internationally, and I’m really looking forward to working with him, in his new role as champion of our sustainable ocean agenda.

SUSTAINABLE OCEAN PLAN I’m also pleased to announce the next step in the development of Australia’s Sustainable Ocean Plan. As a member of the Ocean Panel, Australia has committed to sustainably manage 100 percent of our ocean, guided by a sustainable ocean plan. The plan will help improve our stewardship of the ocean, address key ocean challenges and support Australia’s growing ocean economy. ​ During the many conversations we’ve had while developing the plan, we heard clearly the need for improved coordination and collaboration within and between jurisdictions and sectors, and for a door into government to ensure your perspectives and priorities are heard when it comes to ocean decision-making.

In coming into this role around 12 months ago, I did get feedback that the earlier draft wasn’t hitting the mark, so we’ve listened and taken a bit more time to get it right, ensuring it’s more streamlined and action-oriented. We will soon be circulating a new draft for consultation and I encourage you to participate. You’ll see that the new draft Plan proposes a shared national vision for a healthy ocean that supports a strong ocean economy.

The plan will reflect your feedback on Australia’s ocean priorities – taking climate action, growing ocean industries, working with First Nations, protecting and restoring our marine environment, and seeking stronger collaboration, equity and inclusion, knowledge and finance to support our work. The Plan will also have a series of flagship actions, to be taken in the months and years ahead, and it of course builds on the significant achievements, and progress Australia has already made.

And as part of the process, we’re setting up a couple of new bodies to assist. Today, I’m pleased to announce we will establish a cross-sectoral advisory group, bringing together representatives from a range of ocean stakeholders. This group will be established alongside a new National Ocean Steering Committee, comprising federal, state, territory and local government representatives.

The advisory group will provide advice to government and work with the National Ocean Steering Committee. It will be chaired by our new Ocean Sherpa, Tony Worby, and we’ll soon begin a process to appoint other members. I recognise that many sector and topic-specific forums and networks support existing ocean collaboration.

We are not seeking to duplicate these, but to enhance national cross-sector collaboration and how this engagement flows to inform our ocean governance and decisions. I encourage you to participate and look out for the formal expression of interest process in the coming months. Finally, I want to turn to the opportunity we have to elevate our region’s ocean interests on the international stage, at this year’s COP31.

Right now, my colleague Chris Bowen is in Germany, for important engagements in his role as COP31 President of Negotiations. This and the active role the Pacific will play in this COP – through the COP31 Pacific Partnership and the Pre-COP in Fiji and Tuvalu - give us an incredible chance to focus the world’s attention on what climate change means for our region and its ocean.

While climate change of course represents a massive threat, we also know there are substantial opportunities if we can reduce global emissions and simultaneously build the resilience of the coastal and marine ecosystems to mitigate those impacts. Through the Pacific Pre-COP and our COP31 engagement, we are working with partners to elevate Pacific priorities on the ocean-climate nexus and highlight the lived experience of communities on the frontline of climate impacts, while also highlighting solutions of global relevance.

More broadly, our COP31 Pacific Partnership is focused on delivering practical outcomes across the full climate agenda. This includes supporting clean energy transition efforts across the region, recognising that affordable, reliable clean energy is critical for resilience, economic development and energy security. This is a global mission, and we are keen to work with the Pacific family to define clear ocean-climate priorities that we can take to COP31, to drive global ambition and action for the health and resilience of our region.

Before I finish and we move to a fireside chat, I want to recognise the strong foundations we are building on. As a marine nation, Australia leads the world in understanding, sustainably managing, protecting and restoring the ocean through the efforts of its scientists, industries and marine managers, and stewardship by Traditional Owners of Sea Country. But our ocean is under pressure, and it is testing the resilience of our marine ecosystems and affecting the industries and communities that rely on the ocean.​ I’m proud of what we’ve achieved so far.

But we can’t realise our vision of a healthy ocean that supports a strong ocean economy, unless we work together at home, across national borders and with the many users of the ocean. 100% sustainable ocean management is a truly shared responsibility. And I know this group is up to that challenge. Thank you again for having me along today.

I’m looking forward to hearing more about your discussions yesterday and working with you in the coming years. We acknowledge the Traditional Owners of country throughout Australia and recognise their continuing connection to land, waters and culture. We pay our respects to their Elders past, present and emerging.