PwC walks back report used to claim Australia’s nature repair market could be worth $137bn

Report cited by environment minister in support of offset bill was criticised for inflated figures and lack of clarity on outcomes

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PwC has walked back a report used to claim the nature repair market could be worth $137bn, accepting it measures “indirect spending towards biodiversity” but the amount spent on “threatened species conservation, with clear outcomes, is likely much less”.

The consultancy firm made that submission to a Senate inquiry examining the Albanese government’s nature repair market bill in response to a critique of the report from progressive thinktank the Australia Institute.

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