Native Flora & Fauna

From DCCEEW:
Nature Repair Market - DCCEEW

We are now consulting on the Nature Repair Market Draft Bill (the Bill). This exposure draft legislation would operate as a framework. It would establish high integrity methods for undertaking projects, transparency in the market and strong compliance arrangements for projects.

We will use your feedback to ensure the Bill is fit for purpose.

Have your say by 5pm AEDT Friday, 24 February 2023.

We are establishing a new national voluntary nature repair market, to support landholders to restore and protect nature.

The 2021 State of the Environment Report found a significant investment in conservation and restoration is needed to reverse the decline in Australia’s environment. Voluntary private sector investment can make a significant contribution.

The nature repair market will recognise landholders who restore or manage local habitat and grant them biodiversity certificates which can then be sold to other parties.

The market will make it easier for companies and others to invest in nature repair and to drive biodiversity improvements across Australia. The market would operate in parallel with the carbon market.

A well-designed nature repair market would encourage and support projects that restore and protect nature, which may include those that:

• improving or restoring existing native vegetation by activities such as fencing or weeding
• planting a mix of local species on a previously cleared area
• protecting rate grasslands that provide habitat for an endangered species.

We are proposing a market open to all landholders including First Nations people, farmers and conservation groups.

To develop the market, we will undertake a broad consultation process that will explore foundational elements of the market, including to ensure it delivers environmental integrity, meets the needs of participants and delivers on the environmental priorities of the government.

Our first stage of consultation, a public consultation process, closed on 16 September 2022. Feedback received will inform the development of the market framework and legislation.

If you need more information, contact naturerepairmarket@DCCEEW.gov.au