We are developing legislation to support a national voluntary biodiversity market.
The 2021 State of the Environment report shows that we must do more to protect and restore Australia’s environment. Private sector investment can make a large contribution.
We are consulting on the design of a market which makes it easier to invest in biodiversity. This will drive improvements across Australia. The market will work together with the carbon market.
A well-designed market will:
- deliver real environmental benefits, such as providing habitat for native species
- benefit landholders through reduced erosion, topsoil protection, better drought resilience and shelter for livestock
- encourage environmental improvement on private land, by creating economic opportunities.
We want a market open to all landholders. This includes First Nations people, farmers and conservation groups.
We are consulting on the key elements of the market. This will ensure integrity and real environmental benefits. The market must also meet the needs of participants.
We undertook a public consultation process, through the Have Your Say website. This closed on 16 September 2022. Feedback will inform the development of the market framework and legislation.
We are continuing expert discussions on the technical details of the legislation.
If you need more information, contact biodiversitymarket@DCCEEW.gov.au