The Albanese Government's Nature Repair Market is gaining momentum, with two new projects now registered in New South Wales.
The Nortongong Biodiversity Restoration Project near Coonamble, led by Wilga Farming, and a second project at Silva Capital's Cooplacurripa Station, will help to restore native forest and woodland ecosystems by planting a mix of local species and active land management including feral pest and weed reduction.
The two proponents manage ongoing agricultural businesses and are running carbon projects alongside nature repair projects.
The Government launched the Nature Repair Market last year to support landholders, farmers, First Nations groups and conservation groups to invest in activities that deliver verifiable environmental results under a strong integrity framework.
These new projects mean that 2,656 hectares of land are now being restored through the Nature Repair Market.
The Nortongong Biodiversity Restoration Project will restore and manage a Weeping Myall woodland and will be stacked with a registered environmental plantings Australian Carbon Credit Unit (ACCU) Scheme project.
The latest project at Cooplacurripa Station will restore and manage multiple native ecosystems including a rainforest, eucalypt woodland and grassy forests. It will also be stacked with an environmental plantings ACCU Scheme project.
Land managers will soon be able to participate in a second Nature Repair Market method which will support projects that enhance biodiversity in areas with existing native vegetation. Additionally, reforms to the EPBC Act last year will allow Nature Repair Market projects to be used as environmental offsets. The Market will also continue to support voluntary action on nature repair.
Minister for the Environment and Water Murray Watt was pleased to see more projects being registered under the landmark Nature Repair Market.
"The Nature Repair Market is still in its early stages, but as the number of projects and methods continue to grow, we will see more benefits for nature and for local communities," Minister Watt said.
"The Albanese Government is committed to working with landholders to repair our natural environment.
"And these projects highlight landholders' enthusiasm to carry out projects to improve biodiversity and land resilience alongside existing farming activities.
"Together with landholders, including farmers and Traditional Owners, as well as the businesses and philanthropists that back these projects, we are investing in our natural environment for generations to come."
