The Commonwealth’s Nature Repair Act 2023 (‘the Act’) establishes a new national market (the ‘Nature Repair Market’) ‘to promote the enhancement and protection of biodiversity in native species’ and to contribute to ‘Australia’s international obligations in relation to biodiversity’ (s 3). The implementation of the Act is articulated through specific biodiversity project methods that are approved by the federal Environment Minister. The Act is also supported through the Nature Repair Rules 2024 which include requirements for registering projects, reporting, auditing and notification. One project method – for Replanting Native Forest and Woodland Ecosystems – is in operation and at least one project has been registered under it. Several further methods are also being developed or in a scoping phase. There is also recent public consultation about how the Nature Repair Market will supply environmental offsets.