The number of projects registered under the Nature Repair Market has doubled.
The Nature Repair Market has 2 new registered projects, bringing the total number of projects to 4.
Together, all 4 projects registered under the Nature Repair Market will restore 2,656 hectares of land.
The third project is the Nortongong Biodiversity Restoration Project in northern New South Wales. It will restore and look after Weeping Myall woodland.
The fourth project is Cooplacurripa Biodiversity Project (Part 2) and is the second Nature Repair Market project at Cooplacurripa Station, located on the NSW Mid North Coast. The project will restore and manage native ecosystems. This includes rainforest, eucalypt woodland and grassy forest.
Both projects are on the same land as registered Australian Carbon Credit Unit (ACCU) Scheme projects. This means proponents can deliver biodiversity outcomes while earning carbon credits.
See images of the new project site.
All 4 registered projects will help restore native forest and woodland ecosystems. Activities include planting local species and active land management such as weed control and feral pest management.
The Nature Repair Market is designed to:
- deliver high-integrity environmental benefits
- encourage investment in nature repair.
The first 4 projects show how nature repair and carbon projects can align. They can improve biodiversity, make land more resilient and create new income opportunities.
The Enhancing Native Vegetation (ENV) method is expected to be released later this year. It will support projects that improve or maintain the condition of native vegetation. It will also create more opportunities to take part in the Market.
