We are creating a world first nature repair market. It is to reward landholders who restore and protect nature. The market will provide options for businesses to invest in nature repair.
Reversing Australia’s environmental decline
The 2021 State of the Environment Report found a significant investment is needed in conservation and restoration to reverse the decline in Australia’s natural environment. The scale of the task to reverse this decline is beyond government and individual landholders. Voluntary private sector investment can make a significant contribution.
In response, the Australian Government will commit to delivering better environmental protection and reforms under the Nature Positive Plan. One of these reforms is creating a Nature Repair Market. This will encourage voluntary investment in the market. The private sector can make a significant contribution to restoring Australia’s natural environment.
Growing demand for nature investment
The market will make it easier for companies and other businesses to invest in and drive nature repair across Australia. Businesses and investors are looking to do more, and this will grow over time.
Demand for the market could come from several sources, including:
- carbon market participants seeking projects which also benefit nature
- philanthropic and Environmental, Social and Corporate Governance (ESG) motivated investment, driven by reporting and disclosure requirements such as the Taskforce for Nature Related Financial Disclosures.
In future, the Environmental Protection and Biodiversity Conservation Act could drive demand for nature repair projects. The Government is reforming Commonwealth environmental laws, including offset requirements. It will legislate a new National Environmental Standard to ensure offsets are a last resort. If required, it will more than compensate for the impacts of development.
Nature Repair Market Bill
The Nature Repair Market Bill and Nature Repair Market (Consequential Amendments) Bill was introduced in Parliament on 29 March 2023 and is available on the Federal Register of Legislation.
Further information about the Nature Repair Market Bill:
Consultation and engagement
We are working with a broad range of stakeholders on the design and implementation of the market.
Engaging with First Nations people
Feedback from First Nations people contributed to the draft Nature Repair Market Bill. We recognise the importance of enabling Indigenous communities to use their:
- cultural knowledge
- social knowledge
- environmental assets
- economic assets.
Previous consultation stages
Our first stage of public consultation, closed on 16 September 2022. Feedback received informed the development of the market framework and legislation.
Our second stage of public consultation, on the Nature Repair Market Bill exposure draft, closed on 3 March 2023. The consultation included workshops, information sessions, and meetings with stakeholders.
- First Nations
- environmental and agricultural organisations
- state and territory governments.
How the proposed market will operate
Find out more about how the market would operate.
If you would like to request more information, contact firstname.lastname@example.org