Eco-Markets Australia Opens 30-Day Public Consultation for Cassowary Credits: A New Biodiversity Market
Eco-Markets Australia invites stakeholders, environmental professionals, and the broader community to participate in a 30-day public consultation on the draft Cassowary Credits Standard and Rainforest Replanting Methodology, developed by Terrain NRM.
This is a key milestone for Eco-Markets Australia, marking the assessment the first voluntary biodiversity market for administration, complementing its successful water quality market, Reef Credits.
The public consultation is an integral part of our commitment to transparency and integrity. The feedback collected through this process will directly contribute to the rigorous evaluative framework that underpins all Eco-Markets Australia programs, ensuring long-term environmental benefits and maintaining trust in the markets we administer. We encourage all interested parties to review the documents and submit their insights to help shape the future of this important biodiversity initiative.
Cassowary Credits represent a pioneering effort to protect and restore the Wet Tropics rainforests in Queensland, where 20,000 hectares of unproductive land is being targeted for restoration. The land targeted by this program is critical to both terrestrial and marine ecosystems, including the Great Barrier Reef and endangered flora and fauna. Over the years, the region has suffered from fragmentation due to agricultural expansion, residential development, and infrastructure projects, further exacerbated by invasive species, diseases, and surrounding land use impacts.
The Rainforest Replanting Methodology for the Cassowary Credit Scheme outlines a series of land-based activities designed to restore and enhance the fragmented rainforests of the Wet Tropics region. These activities include the replanting of native rainforest species, managing invasive species, and rehabilitating degraded land to improve habitat quality. By focusing on scientifically validated restoration techniques, the methodology ensures that landholders can achieve measurable improvements in rainforest health.
Each Cassowary Credit generated through these activities will signify a measurable and independently verified improvement in rainforest condition. The draft Standard and Methodology are currently under review by Eco-Markets Australia as part of our rigorous evaluation process. This process involves assessment by Eco-Market Australia’s Technical Advisory Committee, independent peer review, and public consultation to ensure broad stakeholder input.
Eco-Markets Australia’s Technical Advisory Committee carefully reviews all new Standards and methodologies, recommending only those that meet the strict requirements of our Methodology Review and Approval process. This structured and transparent evaluation ensures that all approved Standards and methodologies are scientifically robust, independently verified, and credible. By overseeing this process, Eco-Markets Australia upholds the principles of transparency, independence, and measurable environmental benefits.
Interested parties are encouraged to visit Eco-Markets Australia’s website for more details on Cassowary Credits and how the market will operate. Detailed instructions for submitting feedback are available on the Public Consultation page. The consultation period will run from 01 October until 30 October 2024.
Read more information on Cassowary Credit Scheme.
View Public Consultation information.
Watch the informational webinar on Cassowary Credits and the Eco-Market Australia assessment process:
