Bold policy shifts are needed to get Australia's falling social, economic and environmental wellbeing back on track, new modelling from Monash University shows.
Developed by the Monash Sustainable Development Institute (MSDI), the modelling shows a lack of action now to plan for decades ahead will leave the nation with persistent poverty, income inequality and further biodiversity decline across the country.
The new modelling is detailed in the University's third Transforming Australia: SDG Progress Report, which tracks the nation's progress towards the UN Sustainable Development Goals - 17 goals Australia and other nations adopted in 2015 to improve social, economic and environmental wellbeing.
Across the 80 indicators assessed, the report found progress has stalled or is going backwards on more than half, and Australia is lagging behind other OECD nations.
To reach more than 80 per cent of progress towards these goals by 2030, and 90 per cent by 2050, the modelling recommends incorporating targets into national policy frameworks and reporting, including the federal government's Intergenerational Report and Measuring What Matters framework.
It also urges the government to establish mechanisms to encourage long-term policymaking, such as appointing a Future Generations Commissioner.
MSDI Senior Research Fellow and Transforming Australia lead researcher Dr Cameron Allen said ambitious action and additional government investment across the next decade is crucial.
"Our modelling shows that with increased ambition Australia can halve poverty and reduce income inequality by a third, boost health, education and productivity, improve biodiversity, and deliver net zero greenhouse gas emissions by 2050," Dr Allen said.
"The results confirm that if governments adopt an integrated and long-term approach to policy they can deliver tangible benefits for future generations of Australians.
"Without increased investment over the medium-term in key areas such as education and health, disaster resilience, sustainable food, energy and urban systems, and the natural environment, our future prosperity is projected to stagnate and decline, with GDP around $300bn lower by 2050."
Monash's Transforming Australia report reveals in addition to worsening outcomes in many areas, we are falling behind others in the OECD.
It found around 3.3 million Australians, or 12.7 per cent of the population, are living below the poverty line, worse than the OECD average of 12.1 per cent.
Close to 13 per cent of Australians experience food insecurity, compared to only 8.5 per cent in Europe and North America.
But it's not all bad news, with the report also highlighting where Australia is improving and outperforming other nations.
The nation has narrowed the superannuation gender gap from 53 per cent in 2014 to 21 per cent in 2021.
The share of parliamentary seats held by women has jumped to 38.4 per cent, ahead of the OECD average of 32.8 per cent.
MSDI Chair Professor John Thwaites AM said it is important policy and business decisions are based on evidence about where Australia is today, and whether we are on track to meet the goals we have for ourselves and our children.
"Too much of our politics is focused on short-term issues, and not enough on how to tackle longer-term challenges that will determine if the next generation is the first to be worse off than their parents," Professor Thwaites said.
"The challenge of longer-term thinking by governments is not a new thing, but it is inherently complex to achieve. A move to four-year fixed term federal elections would be a start here, but is only one small part of the larger picture.
"Our modelling sets out a clear and achievable way to overcome these challenges, and proves we can achieve better outcomes for even the most vulnerable Australians, but only if we act boldly and immediately.
"In so many areas, Australia's progress is not only stagnating but going backwards and we have an obligation to future generations to take the right move at this critical juncture and truly transform Australia's path."
