Labor plan for nature repair market rehashes old proposal and risks failure, experts say
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Loading... - Ella Martin
- 21 Feb 2023
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Private sector is not seen to be ready to act as main buyer and draft is similarly worded to a Morrison-era bill
An Albanese government environment plan to encourage companies to invest in nature merely expands a Coalition proposal under Scott Morrison and is at risk of failing due to a lack of business interest, experts say.
The federal government is consulting on legislation to establish a scheme to incentivise investment in nature restoration by creating tradable certificates for projects that protect and restore biodiversity.
An exposure draft, published shortly before Christmas, is similarly worded to legislation proposed by the previous government and would establish governance arrangements for the scheme.
It follows a speech by the environment and water minister, Tanya Plibersek, last year in which she said she hoped Australia may one day be home to a “green Wall Street” that attracted conservation investment from around the world. Read More..
