In this article, we’re breaking down the high-level structure of the Nature Repair Market (NRM) and Accounting for Nature (AfN) framework. Both programs offer opportunities to measure co-benefits of carbon projects, and we’ll step through the key differences that you need to consider.
The introduction of the Australian Government’s NRM offers a new framework to measure the repair and protection of nature. This voluntary market has been designed to complement the existing Australian Carbon Credit Unit Scheme (ACCU Scheme) by providing an opportunity to measure the co-benefits (such as biodiversity) linked to a carbon project. Like the ACCU Scheme, it is also administered by the Clean Energy Regulator (CER).
Opportunities with the Nature Repair Market
The first method for the NRM was released in February 2025 and aligns with the ACCU Scheme to enable participants to earn both ACCUs and a biodiversity certificate for conducting an eligible activity on their land. This method is known as the Nature Repair (Replanting Native Forest and Woodland Ecosystems) Methodology, and provides the rules for Nature Repair Market projects that:
- Revegetate land on Australia’s productive and historically cleared land areas
- Replant local native vegetation and support ecological connectivity
The method is intended to be applied to a project with a biodiverse planting that is designed to enhance or protect biodiversity of native species by replanting native forest and woodland ecosystems.
For those participating in the ACCU Scheme’s vegetation-based methods, the NRM presents an opportunity for additional revenue through the sale of the project’s biodiversity certificate. There are also opportunities to formally link your ACCU Scheme project on the Biodiversity Market Register, and align your reporting requirements between the two programs to find cost and/or time efficiencies.
The Value of Accounting for Nature
However, the ability to quantify co-benefits and boost revenue potential isn’t a new opportunity for ACCU Scheme projects.
The AfN Framework was developed by the Wentworth Group of Concerned Scientists over a decade between 2008 and 2018, compiling data across both property and ecosystem levels to produce a model that can be replicated at all scales.
Similar to the NRM method, this framework provides a clear set of rules to allow participants to measure improvement in ecological condition, which can be applied to identify the co-benefits of an ACCU Scheme project. There are several methods developed under the AfN framework already covering assets in classes such as fauna, native vegetation and water, giving a greater variety of options to suit your project.
Below, we have summarised some of the key similarities and differences between NRM and AfN to help you determine which method would suit you best.
Comparing the two
NRM
AfN
What methods are currently available?
There is only one method currently available – Replanting Native Forest and Woodland Ecosystems
There are currently 25 methods available, under asset classes of vegetation, fauna, water, soil and others.
Where can I participate in a project?
Only within specified regions – refer to this map
Anywhere
How do they measure co-benefits?
1. Determine the starting state of the ecosystem
2. Determine the reference ecosystem to be scored against
3. Calculate the threshold values to trigger a biodiversity certificate to be issued
1. Calculate the baseline environmental condition score
2. Re-calculate the environmental condition score over time to measure improvements
Can I stack with an existing ACCU project?
No, you must register both your ACCU project and NRM project at the same time to meet eligibility requirements under both methods. Both methods require you to plant on previously cleared land.
Yes, AfN enables participants to use a “look-back” period where there is supporting evidence. AfN is currently developing ‘linking rules’ to formalise this arrangement for existing and new projects.
Can I stack with a new ACCU project?
Yes, and CFF can support you to align your ACCU project plans to the method(s) that best suit your biodiversity goals.
Yes, and CFF can support you to align your ACCU project plans to the method(s) that best suit your biodiversity goals.
Reporting requirements
At least every 5 years and no more than 6 months after your last report.
Method dependent but usually at least every 5 years.
What do I receive when I complete my reporting?
A single biodiversity certificate is issued for your project, which can be held by the proponent or purchased by organisations seeking to support investment in nature.
An Environmental Condition score is calculated for each of your nominated assets and the project as a whole. You can informally link your improvement in condition to your ACCU project and potentially receive a price premium when selling your associated ACCUs.
Are there any project examples?
As this was launched in February, no projects have been registered yet.
Yes, there are currently 45 Environmental Accounts registered with AfN. Explore them here.
The Carbon Farming Foundation offer AfN services to help you get the most out of your carbon projects. Interested in learning more about if AfN would suit you? You can book a free, no-obligation consultation with one of our team here.
