Most of the offsets revenue that the South Australian government collects from land clearers isn't going to projects that directly protect native vegetation, according to official data.
Taxpayers will have to make up the shortfall, after project proponents paid insufficient money into the NSW Biodiversity Conservation Fund to buy required offsets.
Carbon offsets company CO2 Australia has emerged as the biggest winner in round one of Queensland's Land Restoration Fund, receiving $33.63 million out of $91 million awarded.
The Western Australian government has won the right to receive some EPBC Act offset revenue, and has secured passage of a state Bill that smooths the way for it to exercise EPBC approval powers.
There is no evidence that sensible economic developments are being hindered by vexatious environmental litigation, according to Justice Rachel Pepper of the NSW Land and Environment Court.
Carbon abatement from projects with major environmental and social benefits will be purchased at more than twice the ERF auction price, under contracts being negotiated by the Queensland government.
A new EPBC Bill will allow for the "legally robust devolution of environmental approvals to the states and territories", Environment Minister Sussan Ley told Parliament today.