August 1, 2022

Eco-Markets Australia July Newsletter

The latest for Australia’s first independent administrator of environmental markets

Update from our CEO

July already! The last few months have been full of connections, conversations and progress as we continue to develop the Reef Credit Scheme and support the work being done to create new environmental market opportunities. We look forward to bringing our inaugural Summit to life in Brisbane on 9th November, see below for details! Our focus these past months has been on increasing awareness and participation in our reef catchments – working with both industry and NRM groups to educate all types of participants on Reef Credits.

We continue to develop informational resources and engage with stakeholders across the country can understand environmental markets and more specifically our role. We are always seeking feedback and would love to hear any suggestions on useful information that we can provide. We welcome the new Ministers to their portfolios and look forward to working with them in the themes of Environment, Agriculture and Science.

The articles below highlight some of the specific work that the Eco-Markets Australia team and board have been engaging in, and I acknowledge the mountain of work that our small team is doing. As always, please reach out if you are interested in learning how you can work with us.

Julia Spicer, CEO

Reef Credit update

We have issued over 35,000 reef credits! The Reef Credit Scheme enables land managers to undertake projects that improve water quality through changes in land management to generate a tradeable unit of pollutant reduction or ‘Reef Credit’. A Reef Credit represents a quantifiable volume of nutrient, pesticide or sediment prevented from entering the Great Barrier Reef catchment.

Tourism Australia, first event to offset with Reef Credits

As part of Tourism Australia’s commitment to its sustainability objectives, their recent ATE22 event has been delivered as a carbon neutral event – working with GreenCollar to not only offset their events carbon footprint but also support water quality projects across the great barrier reef.

ESG Enabler Award for Reef Credits, as the best innovation

It was great to see GreenCollar be awarded the ESG Enabler Award for their work in developing Reef Credits, as the best innovation which helps other organisations achieve their ESG goals.

In their statement, GreenCollar acknowledged “the important role of Eco-Markets Australia who independently administer the Reef Credit Scheme to ensure the highest level of integrity, transparency and traceability of all Reef Credits. It is partnerships like this that are fundamental in developing products that enable positive environmental impact at scale that assist businesses to implement sustainable initiatives while addressing environmental challenges.”

AEMS 2022

Eco-Markets Australia is excited to announce we are hosting our inaugural Australian Environmental Markets Summit (AEMS) on November 9 in Brisbane this year. Mark the date in your calendar and stay tuned as we release program details and partners over the coming months!

Latest news from us

State of Environment Report

The State of the Environment Report recently released by the Hon. Minister Tanya Plibersek, came with a strong message that “inability to adequately manage pressures will continue to result in species extinctions and deteriorating ecosystem condition, which are reducing the environmental capital on which current and future economies depend”. The report reflects and acknowledges that urgent action and scale are required to replenish our natural ecosystems and native species, and globally we are seeing increased demand for sustainable supply chains across most sectors as consumers prioritise environmental considerations through their purchasing preferences. The Report states that “innovative financing and commitment from government and industry are required to fund the level of change needed.” We know environmental markets, like the Reef Credit Scheme, are viable vehicles to drive this investment with the ability to mobilise public and private sector investment. Eco-Markets Australia will continue working with our stakeholders to develop robust, transparent and practical environmental crediting Standards that explicitly measure, value and reward landowners for their work in contributing to sustainable farming that deliver positive environmental outcomes. View the report.

Information Sessions for Landowners

We recently hosted our first virtual information session for landowners. Reef Credits for Landowners was the first in a series of education sessions developed to ensure landowners and farmers better understand the Reef Credit Scheme governance framework and are well-equipped to critically consider this opportunity.