Submission in response to a National Biodiversity Market

Environmental Justice Australia has made three submissions on the Federal Government’s proposed Nature Repair Market, including on the Nature Repair Market Bill 2023.

The federal government intends the biodiversity market to increase investment in conservation by landowners and other groups. The government says it would create a system which rewarded landowners for actions which had some environmental benefits by issuing certificates that can be sold on the private market to companies.

EJA has raised concerns in our submissions, including the importance for significant reform of our federal environmental law, the Environment Protection and Biodiversity Conservation Act, to come before creating this mechanism.

EJA has been clear that it does not support the creation of a Biodiversity Market if its purpose is the enabling of offsets for destruction of biodiversity.

The architecture of the Market must also ensure appropriate consultation of, and benefits for, all Australian Traditional Owners, and the new Environment Protection Australia should be considered the appropriate regulator for the system.