Natural capital statement of intent

We developed the natural capital statement of intent in consultation with key stakeholders across a wide range of sectors and geographic locations. These stakeholders included landholders, industry, finance, environment, and Aboriginal groups. In line with themes brought forward by the community during the consultation, we updated and refined the draft statement.

The statement:

• explains and helps expand New South Wales’ role as a responsible steward of natural assets through the delivery of conservation and environmental market policies and programs
• empowers us to embed the value of our environment into our policies, plans and investments.
• sets out the vision and pathway to attract international capital investment and increase opportunities for landholders to voluntarily take part in carbon, biodiversity and emerging natural capital markets.

The overall role of the NSW Government is to help establish the conditions for natural capital investments, including supporting system assurance. 

Building capacity

We are using natural capital data and information to inform how government-led strategies and projects are established and further developed.

Initially, government influence is needed to deliver activities and programs. As markets mature and the private sector becomes more involved, the government becomes the steward and market authority. Once this market maturity increases, voluntary markets will establish and evolve independently of government intervention.

We are continuing to broaden our natural capital knowledge base and share insights to help build capacity across other sectors and key industries. We are also engaged in global and national partnerships to create rigorous standards that will be required for wider adoption.

Government can enable and create the conditions that facilitate and reduce the risk of private and public investment in natural capital initiatives. We have already taken steps to create the right conditions. Through support for natural capital markets, we will seek to increase and optimise investment flows into New South Wales.

The NSW Government remains committed to natural capital and working in partnership with landholders and farmers to improve biodiversity. 

In response to the review of the Biodiversity Conservation Act 2016, the government published its NSW plan for nature. The plan outlines a strategy for realising its commitment to reform the Biodiversity Offsets Scheme, stop excess land clearing and to strengthen environmental protections.