A well-designed nature repair market will encourage and support biodiversity projects. This will enable these projects to restore and protect nature.
Landholders who can take part
Landholders that can take part in the market include:
- First Nations people
- conservation groups
Types of projects
Projects can be:
- on land
- part of inland waterways (lakes and rivers)
- in marine and coastal environments (within 12 nautical miles of the low water mark)
- on the Australian mainland or external territories.
Projects may include:
- improving or restoring native vegetation through activities such as fencing or weeding
- planting a mix of local native species
- protecting rare grasslands that provide habitat for an endangered species.
Landholders can also undertake projects to protect existing habitats, restore and improve damaged areas and establish new plantings to promote biodiversity and animal habitats.
Attracting investment to nature
Each project will have a single tradable certificate. Owners can sell these certificate to buyers under commercial contracts.
Certificates will provide standard information to enable the market to confidently compare and value projects. These regular project reports will describe and verify the environmental outcomes.
Transparency of current owners
Certificates, their status and ownership are trackable via a public register. This will help certificate owners show how they are supporting nature repair.
Aligning carbon and biodiversity markets
The market will operate alongside carbon markets. Landholders can get certificates from carbon projects that create biodiversity. The Clean Energy Regulator will regulate the market to help align carbon and biodiversity markets. This will make participation in both schemes easier for landholders.
Innovative biodiversity monitoring grants
The Innovative Biodiversity Monitoring Grants Program encourages innovative – and cost-effective – solutions for biodiversity monitoring. This will support the delivery of environmental outcomes from the Nature Repair Market.
The grant is funding development of biodiversity monitoring approaches for Nature Repair Market projects.
Read more about the Innovative Biodiversity Monitoring Program.
Governance and integrity
The Nature Repair Market Bill 2023 underpins the market. This legislation establishes a transparent framework, issuing Australian landholders with tradeable biodiversity certificates.
The Bill will provide the rules that ensures integrity, enforcement, and genuine environmental benefit.
The Bill establishes an expert technical committee – the Nature Repair Market Committee – to review proposed methodologies. These will set the rules for projects. The committee will advise the Minister whether they comply with biodiversity integrity standards as defined in the Bill.
The standards will ensure projects deliver genuine improvements in nature. Biodiversity certificates contain reliable information about these improvements.
We will work with the ACCC and ASIC to make sure claims about certificates are accurate and are not misleading.
The Nature Repair Market Bill and Nature Repair Market (Consequential Amendments) Bill are available on the Federal Register of Legislation.
Read more about the Nature Repair Market Bill 2023:
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