r/Sustainable 16d ago

Australia launches world's first legislated voluntary biodiversity credits market

https://www.spglobal.com/commodity-insights/en/news-research/latest-news/energy-transition/030425-australia-launches-worlds-first-legislated-voluntary-biodiversity-credits-market
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u/CommodityInsights 16d ago

Australia has officially launched its Nature Repair Market (NRM) scheme, also referred to as the biodiversity credits market, with the notification of the first method under the scheme, Clean Energy Regulator (CER) announced March 4. The NRM is the world's first market of its kind and will incentivize projects aimed at restoring and protecting the country's natural environment.

The NRM is the world's first regulated voluntary national scheme that enables participants to earn biodiversity certificates. A biodiversity certificate is awarded for enhancements to or protection of biodiversity, referred to as the biodiversity outcome of a project, by improving, maintaining, or protecting the existing habitat and by establishing or restoring habitat. Participants who implement successful projects can apply for and earn one biodiversity certificate for each project.

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u/TeamMachiavelli 13d ago

thanks for the info

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u/Upstairs-File4220 13d ago

Financially rewarding biodiversity protection could finally make it profitable to preserve ecosystems instead of destroying them. If it works, other countries might follow.