Chartered Accountants Australia and New Zealand (CA ANZ) provided feedback on the biodiversity assessment instrument under the Nature Repair Act 2023, which is intended to support the Nature Repair Committee’s statutory consultation. The instrument aims to provide a baseline for potential investors to compare aspects of projects, ensuring access to comparable information for informed investment decisions. It could also substantiate the credibility of claims by projects within the nature repair market.

The submission highlights the need for the alignment of the instrument to corporate reporting, noting that the International Sustainability Standard Board (ISSB) will commence research projects related to biodiversity, ecosystems, and ecosystem services. The Australian Government has also indicated that broader sustainability-related disclosures are expected in the future. The accounting profession plays a significant role in preparing, measuring, and providing transparency to information used in investment decisions, including in the nature repair market.

CA ANZ emphasises the need for developing knowledge and capability across the profession to meet the demands of reporting under the nature repair market and future sustainability-related disclosures.