Second registered project in Nature Repair Market highlights opportunities for landholders

Efforts to grow private investment in nature, using environmental markets, are gaining momentum with the registration of a second project through the Albanese Government’s Nature Repair Market. The new project will restore native rainforest in the NSW Northern Rivers region. Located on 19.9 hectares (equivalent to 28 Sydney Football Stadium fields) of cattle grazing property near Doon Doon, southwest of Murwillumbah, the project will plant native trees and shrubs to restore rainforest ecosystems on steep slopes and stabilise areas around creeks and gullies.

Alongside environmental repair efforts, the property will continue to host a productive cattle breeding business. The Albanese 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.

This new project means that nearly 460 hectares of land is now being restored through the Nature Repair Market. The new project’s proponent, 24 Degree Forest, is a carbon service provider with a particular interest in restoring rainforests. The project is on the same parcel of land as a project registered to earn carbon credits under the Australian Carbon Credit Unit (ACCU) Scheme.

The two schemes are aligned to provide more opportunities for landholders and investors to achieve carbon and biodiversity outcomes. The first method under the Nature Repair Market complements the ACCU Scheme to allow project stacking on the same land. Land managers will soon be able to participate in a second 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. Images of the new project site are available Quotes attributable to Minister for the Environment and Water, Murray Watt: “The Nature Repair Market is in the early stages of development and like other environmental markets, it will take time to mature and scale.

But this project shows there is confidence in the scheme and growing interest, as we expand the types of projects that can be included. “We’re committed to seeing more landholders progress projects in the Nature Repair Market, because this work will benefit local communities, and Australia’s natural environment. “We’re backing the market to expand, so there is more opportunity for land managers to get the most out of their land, while delivering measurable benefits for the plants and animals that call it home.” Quote attributable to Founder of 24 Degree Forest, Johann Theron: “The Nature Repair Market will help differentiate and reward projects like ours that invest in biodiversity, forest structure and ecosystem restoration.” Quote attributable to Karinya Downs landholder, Daniel Stoten: “My time at Karinya taught me that nature does not deal in punishment or reward - only consequence.

Once I understood that, aligning with nature's time-tested model for sustainability no longer felt like an idealistic choice, but a simple and logical one.” We acknowledge the Traditional Owners of country throughout Australia and recognise their continuing connection to land, waters and culture. We pay our respects to their Elders past, present and emerging.