On 30 March 2023, the Senate referred the provisions of the Nature Repair Market Bill 2023 and the Nature Repair Market (Consequential Amendments) Bill 2023 to the Environment and Communications Legislation Committee for inquiry and report by 1 August 2023.
The closing date for submissions is 1 June 2023.
On 31 July 2023, the committee was granted an extension of time for the report until 1 November 2023.
On 23 October 2023, the committee was granted an extension of time for the report until 18 April 2024.
About this inquiry:
The Nature Repair Market Bill 2023 seeks to provide a framework for a voluntary national market that delivers improved biodiversity outcomes. Eligible landholders who undertake projects that enhance or protect biodiversity would be able to receive a tradeable certificate that will be tracked through a national register.