Federal environment minister Tanya Plibersek signing the Nature Repair Bill. Source: Tanya Plibersek Twitter

THE Federal Government looks set to pass its Nature Repair Bill through the Senate after making a deal with the Greens to add further protections to water assets and not allow the program to be used as “biodiversity offsets”.

Making a market for protecting habitats and enhancing biodiversity has been on the cards for years now – as governments try to unlock capital for environmental work.

Nationals leader David Littleproud introduced a similar policy called the ‘agriculture biodiversity stewardship package’ in the last term of Government. Labor’s nature repair market was introduced in March but has struggled to pass the Senate.

The Greens have since agreed to pass the bill through the senate on two conditions:

• Nature repair certificates cannot be used for biodiversity offsets – which where companies doing activities that harm biodiversity can offset their work by enhancing biodiversity somewhere else.
• The “water trigger” to be expanded from coal seem gas to other forms of fracking, making projects like the gas development in the Betaloo Basin go through extra regulatory hurdles.

“Rushed deal” weakens bill

National Farmers’ Federation chief executive officer Tony Mahar has welcomed the passage for the bill and said it was an important step towards unlocking capital for environmental work.

“The NFF has been a longstanding advocate for the establishment of natural capital markets which can reward farmers for the work they do as stewards of more than half of Australia’s landmass,” Mr Mahar said.

However, the NFF has also raised concerns about the deal Labor has made with the Greens saying the legislation should have been much better.

“Farmers would have liked to see protections included for prime agricultural land, and limits on participation by public land assets – the restoration of which should continue to be publicly funded,” Mr Mahar said.

“The exclusion of offsets in the final bill is peculiar. As an established function of the EPBC Act, we would have welcomed the increased rigour and transparency of having offsets valued and traded in whatever marketplace ultimately emerges from this new framework.

“The establishment of a functioning marketplace must now be the priority. As we’ve said throughout this process, this legislation does not constitute a marketplace. It simply lays the groundwork for one to be established.”

Water trigger not including carbon capture

While the expansion of the water trigger will see more scrutiny put on gas developments, a controversial carbon capture project in Qld’s Surat Basin will remain a state issue.

Glencore’s plan to inject waste CO2 into an aquifer of the Great Artesian Basin has drawn widespread opposition from agricultural and environmental groups. It was referred to the Federal Government, however, it did not activate the water trigger.

AgCarbon Central asked environment minister Tanya Plibersek if there were any plans to add carbon capture to water trigger.

A spokesperson for the department said: “The updated water trigger if passed, would be expanded from coal seam gas to include other types of unconventional gas developments such as shale gas.

“The department has already determined that Glencore’s proposed Surat Basin Carbon Capture and Storage Project is not a controlled action under national environment law.”