The document discusses determining carbon and water fluxes and budgets at ecosystem to continental scales. It notes that terrestrial ecosystems annually sequester about one quarter of anthropogenic CO2 emissions, providing an important ecosystem service. OzFlux directly measures exchanges of carbon, water, and energy using eddy covariance across Australia. These measurements are used to test and improve land surface models, reduce uncertainty in estimates of net primary production for Australia, and develop the first comprehensive carbon budget for Australia. The document emphasizes the role of OzFlux measurements in quantifying carbon and water budgets from local to continental scales.