Forrest calls for global fishing overhaul as Australia backs major treaties at UN summit
Australian mining billionaire Andrew Forrest has called for the United Nations to back a major overhaul of global fishing regulations and marine life protections following an international ocean summit last week.
Australia's Environment Minister Murray Watt also attended the 2025 UN Ocean Conference (UNOC3) in Nice, France, and confirmed on Friday the federal government has joined 96 other nations in committing to end plastic pollution.
Declaring 'the ocean is in freefall', Forrest made the comments following the summit on Saturday, saying his Minderoo Foundation will commit an additional $25 million towards implementing new marine protected areas and real-time vessel monitoring.
'We must lock in 30 per cent no-take marine protected areas by 2030 in every nation, in the high seas [international waters] and across at least 30 per cent of Antarctica – this must be the minimum, not the maximum – and it must be enforced, not just declared,' the WA-based magnate said in a statement.
'Thanks to science, enforcement is now possible. Satellites track vessels in real time. AI flags illegal behaviour. The excuses are gone.'
Loading
Forrest unveiled the foundation's Flourishing Oceans Commercial Fishing Act (FOCFA), a self-financing, enforcement-ready model for no-take MPAs and sustainable fisheries and said he would relaunch a Global Fishing Index in 2026.
'This flips enforcement incentives. Fishers, regulators, and even competitors are motivated to expose illegal actors. Governments reclaim lost revenue. Legal operators are protected. And the commercial risk of turning a blind eye rises – all the way up the supply chain,' he said of the proposed FOCFA.
Minderoo has also partly funded a new documentary, Ocean with David Attenborough, about the devastation brought about by unregulated industrial fishing, which was released last month.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sydney Morning Herald
an hour ago
- Sydney Morning Herald
Most Australians aren't ‘good with money'. It's time that changed
Meanwhile, in the United Kingdom, Mexico, Japan and South Africa, women's literacy on all things money isn't just as good as the gents, it's better. But what was easily the most concerning finding was that among those aged 15 to 24, the score out of five was just 2.9. That, my friends, is a seriously mediocre C-grade. Perhaps 50 years ago, when the choices were between a couple of basic bank products and a superannuation account, these numbers wouldn't have been so concerning. But in a world of countless different types of specialised bank loans, HECS debt, credit cards, buy now pay later schemes, online gambling, cryptocurrency, ETFs, salary negotiations, bonus structures, stock options, and self-managed versus industry or corporate super funds, it's never been more important to ensure that everyone, especially young people, is literate when it comes to money. Though the Australian curriculum does include financial literacy content, the way in which it is being taught and the detail within that vary greatly, leaving much room for improvement. One country leading the way in this field is, believe it or not, the United States. According to the US' Council for Economic Education, as of 2024, 35 of the country's 50 states now require high school students to attend personal finance classes before they graduate. Loading That's more than two-thirds of teenagers across America having a basic understanding of money and finance before they leave home and enter the world of adulthood and employment. The trend is also taking off at American universities, where a growing number of public and private institutions are offering personal finance courses for students as electives. These courses teach the basics, but some go further and cover the principles of investing, taxes, how to understand job offers and salary packages, as well as the psychology of why people make certain financial decisions. As much fun as those 101 literature or psychology electives can be, this seems like a much more useful course to be aiming for an easy A in. Aside from the fact that we live in much more financially complicated times, there are other reasons we need to care about making sure our kids understand money. For starters, research consistently shows that the better financially educated someone is, the more likely they are to make good decisions and better judgements about their money. We also know that the cost of being totally financially illiterate or having a poor understanding of money can have devastating long-term effects. People who are 'bad with money' are consistently shown to have a lower standard of living, and we see the wealth gap widening between the 'haves' and the 'have-nots'. So easily, one high-interest credit card or personal loan can follow someone around for decades and impact their credit scores, their ability to make career or relationship choices, create extra stress, and make it harder to meet their basic needs. And yet, we see it happen every day, often affecting people you'd least expect. Having a solid grasp on finances isn't just about us as individuals, either. Ensuring everyone knows the basics, especially those who are the least financially literate, is actually great for the economy broadly. That's because it allows people to carry less debt, improves their job opportunities and earning potential, and creates new jobs in the process. To quote former assistant RBA governor Keith Hall all the way back in 2008: 'Money spent on financial education would be money very well spent.' And while it's not as if we're doing nothing, we certainly need to be doing so much more. Because the more people who can hold their head high and say they're 'good with money', the better. Victoria Devine is an award-winning retired financial adviser, bestselling author and host of Australia's No.1 finance podcast, She's on the Money. She is also founder and director of Zella Money.
Sydney Morning Herald
an hour ago
- Sydney Morning Herald
New route launched as Australians flock back to former Asian favourite
Australians bounced back to international travel with a vengeance following the reopening of borders after the pandemic, but there were a handful of destinations we did not rush back to. One was the United States, thanks to more expensive flights, a strong US dollar and, most recently, the actions of President Donald Trump. Another was Hong Kong, where the decline in visitors began before COVID amid political unrest following China's crackdown on pro-democracy protesters. However, the signs show that Australians are returning to the harbour city. The number of visitors heading there has surged recently – up about 40 per cent year-on-year for the past three months. The number of visitors heading to Australia from Hong Kong has also increased. The number of Hong Kong residents heading here in April rose more than 70 per cent on the same time last year, according to Australian Bureau of Statistics figures. The trends explain why Hong Kong Airlines has decided to launch another route into Australia, which started from Sydney on Saturday. It's the second Australian route for the airline after it resumed Hong Kong-Gold Coast flights in January (it suspended the route in 2018). The Australian government recently reached a new bilateral air agreement with Hong Kong, allowing for increased traffic between the two destinations. The new daily flights will increase capacity by 20 per cent and cement the destination as the third-busiest international route from Sydney, behind Singapore and Auckland.
The Age
an hour ago
- The Age
New route launched as Australians flock back to former Asian favourite
Australians bounced back to international travel with a vengeance following the reopening of borders after the pandemic, but there were a handful of destinations we did not rush back to. One was the United States, thanks to more expensive flights, a strong US dollar and, most recently, the actions of President Donald Trump. Another was Hong Kong, where the decline in visitors began before COVID amid political unrest following China's crackdown on pro-democracy protesters. However, the signs show that Australians are returning to the harbour city. The number of visitors heading there has surged recently – up about 40 per cent year-on-year for the past three months. The number of visitors heading to Australia from Hong Kong has also increased. The number of Hong Kong residents heading here in April rose more than 70 per cent on the same time last year, according to Australian Bureau of Statistics figures. The trends explain why Hong Kong Airlines has decided to launch another route into Australia, which started from Sydney on Saturday. It's the second Australian route for the airline after it resumed Hong Kong-Gold Coast flights in January (it suspended the route in 2018). The Australian government recently reached a new bilateral air agreement with Hong Kong, allowing for increased traffic between the two destinations. The new daily flights will increase capacity by 20 per cent and cement the destination as the third-busiest international route from Sydney, behind Singapore and Auckland.
