Andrew Gee (Calare, Independent) Share this | Hansard source

In our part of the world we are pretty lucky: rolling hills, big valleys, healthy and productive waterways. We have some of the best agricultural land in the world and our farmers are also world-class. I would call them the best in the world, although I have to confess I am a little biased. We are part of the great food basket of Australia. We also have many sites of cultural significance with First Nations people working to protect and promote the rich cultural heritage of our area.

I believe the Nature Repair Market Bill 2023 presents a wonderful opportunity for the people of our area and across Australia to restore, repair and protect the incredible natural resources we have. I don't know a single farmer who doesn't take their responsibility to protect and improve the land they work on extremely seriously. This bill gives our farmers and other landowners the ability to make a real difference to our environment while also supplementing farming income. It is a win-win for farmers and the environment.

The Australian biodiversity market has been estimated to be worth $137 billion, more than half of which is forecast to be driven by biodiversity, conservation and natural-capital-themed bonds, loans, debt and equity. I note that the Australian government has suggested that unlocking this potential investment is critical to reversing the long-term decline in Australian biodiversity, revealed in the 2021 State of the environment report, which found that Australia's environment is in poor and deteriorating condition.

As a regional MP, farmers and the land are at the heart of the work that I do here. As I have already stated, our local farmers, orchardists and vignerons are some of the strongest environmentalists you will find anywhere. This takes the form of soil and pasture improvements, weed control, erosion rectification, tree planting, reducing the use of chemicals where possible, the improvement of waterways and smarter cropping techniques. They aim to make sure their farms and the land is passed on to the next generation so that it continues to produce the food and wealth of our nation.

At the Charles Sturt University Orange campus Loam Bio, with the support of the Australian government, is revolutionising carbon farming. It's very exciting, cutting-edge stuff. In Calare there are proximally 105 animals and plants that are threatened or endangered. Species such as the Bathurst copper butterfly, Littlejohn's tree frog and the regent honeyeater are all endangered, and plants such as the silver leaved mountain gum and the Rylstone bell are facing a similar fate. The time to act is now, and I'm supportive of this bill that provides tangible benefits for businesses and farmers choosing to support Australian biodiversity.

Within the proposed nature repair market, all landholders will be able to participate, including Aboriginal and Torres Strait Islander people, with a wide range of projects considered eligible. This would recognise that landholders have different circumstances, interests and aspirations, and would encourage participation and increase supply. Projects will be wide-ranging and could involve replanting or nature restoration that increases carbon storage or improves biodiversity or the management of existing vegetation to improve habitat condition or outcomes for native species.

In 2020, the then environment minister appointed Professor Graeme Samuel to conduct an independent review of the Environment Protection and Biodiversity Conservation Act 1999, also known as the EPBC Act. As per recommendation 28 of the Samuel review, the Nature Repair Market Bill is fostering private participation in biodiversity restoration and is building the nature repair market off the back of key elements proposed in the Nature Positive Plan last year.

The Australian government, I note, is also in the process of implementing further recommendations in the Samuel review. These commitments include introducing national environmental standards, including standards on environmental offsets, and a federal environment protection authority. While I acknowledge that in an ideal world changes to the EPBC Act would have coincided with the introduction of the Nature Repair Market Bill 2023, I also accept that the EPBC amendments are a much larger body of work. Introducing the Nature Repair Market Bill before the EPBC Act amendments means that farmers in my area can reap the rewards sooner, and it encourages greater investment into enhancing Australian biodiversity

Within the bill, it's proposed that certain conditions and requirement will need to be met before an application is made to the Clean Energy Regulator for the issuance of a biodiversity certificate. Such requirements will include that the project is sufficiently progressed to have resulted in or likely to result in the biodiversity outcomes for the project, that the proponent is a fit and proper person and that the eligibility requirements and criteria have been met. Certificates are only issued for biodiversity protection or enhancement that would not normally have occurred and therefore provide a genuine environmental benefit. Essentially, biodiversity certificates will be a form of tradeable personal property which can be purchased, transferred, claimed, used and publicly tracked. These certificates will enable biodiversity outcomes to be owned and traded separately from the underlying land. Buyers are expecting to be able to invest in nature to achieve philanthropic objectives, meet their social and environmental responsibilities, compensate for their impacts on nature and manage risks associated with their dependencies on nature.

The role of the Clean Energy Regulator would include registering projects, issuing certificates, maintaining the public register of projects, undertaking compliance and enforcement, and providing oversight of the market. The bill also provides for the establishment and administration of a public register known as the Biodiversity Market Register to facilitate transparency, accountability and market efficiency. This will track issuance, ownership, transfer, relinquishment and cancellation of biodiversity certificates and will be managed by the Clean Energy Regulator.

The public Biodiversity Market Register will enable information relating to each biodiversity project to be reviewed, compared and scrutinised by the public. I believe this is essential in ensuring there is public accountability for the projects within the Biodiversity Market Register.

We live in an incredible country, and I want it to be just as incredible for the many generations to come. That is why I'm supporting this bill and supporting its objective to give farmers and landholders a tangible benefit for protecting or enhancing the biodiversity make-up of their land. I commend the National Party and the opposition for developing the key components of this bill. It is great work. I hope they can swing in behind it. And I think the minister's office for their engagement in this important legislation. I commend the bill to the House.

See this speech in context