The Federal Government has announced the creation of the
BCS which, according to Prime Minister Anthony Albanese, will be
the start of a "nationwide restoration" of
Australia's environment. The BCS will be designed to grant
tradeable biodiversity certificates to landholders who restore or
manage local habitat. The market will be open to all landholders,
including first nations people and conservation
groups.
Over the coming months, the Government will be
consulting widely on the detailed rules for the scheme including
how biodiversity benefits should be measured and
verified.
Snapshot
- The BCS would be designed to facilitate accessible business,
organisational, and individual investment in landscape restoration
and management. In doing so, the scheme is designed to respond to
the 2021 State of the Environment Report which found that
significant investment in conservation and restoration is needed to
reverse environmental decline in Australia.
