The introduction of the Nature Repair Market scheme allows organisations and individuals to be rewarded for running projects that deliver measurable biodiversity outcomes.
In northern New South Wales on Biripi/Birpai Country west of Taree, Silva Capital (Silva) has partnered with Covalent Land Australia (Covalent) to successfully register the first Nature Repair Market scheme project under the Replanting native forest and woodland ecosystems method. The Silva Capital Cooplacurripa Biodiversity Project No.1 aims to restore native vegetation and improve biodiversity across 438.54 hectares of previously cleared land.
Once they had determined the land was eligible, Silva – as the landholder – engaged Covalent as the suitably qualified person for this project. Covalent helped with site assessment activities, including the field survey, and will continue to work closely with Silva on ongoing monitoring requirements.
Silva has started planting a mix of direct seeding and tube stock and expects to complete planting activities by 2029. These plantings include ground covers, midstory shrubs and canopy layer trees. By selecting plants that naturally occur in the region, the project aims to create a well-structured native ecosystem that rehabilitates the landscape. As the suitably qualified person, Covalent says, ‘The Nature Repair Market provides a framework to recognise Silva’s progress towards returning the landscape to its reference ecosystem.'
The project’s biodiversity outcome is to enhance biodiversity in native species by replanting a forest ecosystem. It is expected this outcome will be reached within 25 years and will reconnect habitat and improve landscape resilience. Silva can apply for a biodiversity certificate when the project delivers the verified biodiversity outcome. This certificate would recognise positive biodiversity outcomes and exist as tradable property that could be held on to or sold.
On the same area of land, Silva also has registered an ACCU Scheme project under the environmental plantings method. This is known as stacking projects. Doing this allows Silva to generate biodiversity outcomes while sequestering carbon. They welcome the opportunity ‘to be part of a market which enables carbon and biodiversity to be measured and recognised on the same project area.'
Cooplacurripa Station is on its way to becoming a strong example of how the Nature Repair Market scheme can support large-scale ecosystem restoration.
To find out more about the Nature Repair Market scheme, or for support with your application, email us at naturerepairmarket@cer.gov.au or call us on 1300 553 542.