Australia launches nature repair market to fund environmental restoration, but credibility depends on still-undecided standards
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A new nature repair market has been established in Australia to try to reverse environmental damage, but details remain unclear and the "devil is in the detail"
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Offsets have been removed from the Nature Repair Act but are likely to reappear in wider environmental laws, allowing infrastructure development while compensating for nature losses
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The act will create a framework for trading certificates generated by certified nature repair projects on private land
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There is growing investor demand for nature-related assets but the market may take years to properly establish
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Success depends on the credibility of standards and rules still to be set; Australia can leverage its strengths in governance and technology