Nature and natural capital – across terrestrial, freshwater, atmospheric and ocean systems – are rapidly emerging as material governance, risk and strategic considerations.
Developed by Ocean Decade Australia in collaboration with the University of Sydney, the paper explores how Australian boards are beginning to respond to these shifts, with a particular focus on ocean systems that underpin national prosperity, resilience and cultural identity.
Regulatory reform, investor scrutiny, evolving disclosure frameworks, and accelerating physical and transition risks are reshaping expectations of board oversight and decision-making.
Drawing on data from a national survey of Australian chairs and non-executive directors, results show:
- Ocean issues rarely reach board agendas: only 20% of directors engage. When discussed, it is bundled with freshwater, waste, and pollution, mainly in larger, nature-linked sectors.
- Ocean governance is driven by scientific capability. Directors engaging on ocean often have STEM backgrounds, seek expert input, and invest in learning – enabling informed, forward-looking decisions.
- A small, highly engaged group leads with those boards demonstrating more mature governance, clear strategy, expert engagement, and stronger metrics and disclosure.
Also included in the report are company profiles who are leading on Ocean in the Boardroom.