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ARTICLE · 24 APRIL 2023

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Nature positive reforms: everything you need to know about Australia's new biodiversity market

Corrs Chambers Westgarth
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New legislation provides a framework for a voluntary national market to deliver improved nature and biodiversity outcomes.

AustraliaEnvironment
Louise Camenzuli
Louise Camenzuli
Anna White
Anna White
Ashley Rooney
Ashley Rooney
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The Albanese Government has now introduced its 'world-first' biodiversity market legislation into Federal Parliament, providing a framework for a voluntary national market intended to deliver improved nature and biodiversity outcomes.

In this Insight we explore the key features (and concerns) of the proposed legislation, and some broader implications for business to consider, including the potential opportunities the new market provides for organisations to successfully pursue a nature positive strategy and meet stakeholder expectations in managing biodiversity loss and risk.

Introduction

The 2021 State of the Environment Report (Report) painted a dire picture of the health of Australia's environment, concluding that Australia's biodiversity is declining and the overall state of Australia's environment is poor and continues to deteriorate (see our Insight on the Report here.).

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