Over the past two years, momentum towards addressing the staggering biodiversity loss has been steadily building. On the domestic and international fronts, government and industry have explored ways to incentivise a reversal of this decline effectively and economically efficiently. A nature repair market is one initiative (borrowing from the carbon offset market) that government and industry are exploring.

Unveiled on 29 March 2023, the Australian Commonwealth Government took the major step of introducing legislation into Parliament to facilitate the establishment of a market in tradeable certificates for nature protection, repair and restoration – proposed as the Nature Repair Market Bill 2023 (Bill).

Our insights step you through the developments which have culminated in the announcement by the Australian Commonwealth Government of a national voluntary nature repair market, which has been self-described as a 'world first' scheme.

We explore the road that has led to the release of the Bill, the critical aspects of the Bill, and the opportunities it presents for eventual market participants.