A federal biodiversity markets scheme is urgently needed, but it shouldn't be a source of offsets in the initial stages, according to environmental markets expert, Professor Andrew Macintosh.
The federal climate, environment and water department today sought comments on the Albanese government's proposed national market for biodiversity restoration and protection.
NSW's deputy Auditor-General, Ian Goodwin, has concluded that NSW's biodiversity offsets scheme is seriously flawed, and has warned that there is no clear, long-term strategy to improve it.
Prime Minister Anthony Albanese today committed his government to establishing a new biodiversity certificates scheme, to be managed by the Clean Energy Regulator.
After an inquiry into her previous EPBC climate trigger Bill was repeatedly delayed and then lapsed, Greens Senator Sarah Hanson-Young will re-introduce a version of the Bill today.
The Queensland government has named five new carbon projects that will receive additional payments in recognition of their biodiversity or social co-benefits.
The voluntary market for biodiversity credits could grow to be as important as the carbon credits market, according to Environment Minister Tanya Plibersek.