Department of Climate Change, Energy, the Environment and Water
The Australian Government is developing the Nature Repair Market (the market) to mobilise private finance to repair and protect our natural environments. The market is part of the Australian Government’s Nature Positive Plan to protect more of what’s precious; repair more of what’s damaged, and better manage nature for the future. It is being established in close consultation with First Nations organisations, environmental non-government organisations, ecologists, environmental market participants and others. With a growing interest in nature’s investment potential, the market will make nature-related investment easier and drive nature repair across Australia.
The Nature Repair Act 2023 (the Act) establishes a transparent framework for a national, legislated, voluntary, biodiversity market, whereby Australian landholders can be issued with tradeable biodiversity certificates for projects that enhance, protect, manage or restore biodiversity in native species (projects).
The Act establishes the Nature Repair Committee (the committee) as an expert committee that reviews proposed methodologies, which will set the rules for how a project is to be carried out and the circumstances in which a biodiversity certificate will be issued.
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