The Albanese Government and the Greens have struck a deal on environmental reforms. 

The Senate has yielded to the Greens' persistent calls for substantial environmental reforms aimed at safeguarding nature and mitigating the impact of habitat destruction and gas fracking on the climate.

The government has reportedly agreed to eliminate controversial nature offsets from its proposed legislation, now titled the ‘Nature Repair Bill’. 

This marks a departure from the contentious market for biodiversity offsets that allowed developers to trade credits for destroying nature. 

The revised bill focuses on private investment and philanthropy to protect wildlife on private lands without resorting to offsets.

Addressing a major environmental concern, the government has committed to closing the fracking loophole that permits gas fracking corporations to drill without federal environmental water assessments. 

This move deals a blow to potential climate-threatening projects in areas like the Beetaloo Basin and the Kimberley and is hailed as a victory for the climate, the environment, and First Nations communities.

The 'Water Trigger' amendment, introduced as part of the Environmental Protection and Biodiversity Conservation Act (EPBC), is a pivotal aspect of the agreement with the Greens. 

This measure ensures that fracking projects undergo rigorous environmental assessments, preventing corporations from exploiting the existing loophole that facilitates massive fracking projects in environmentally sensitive regions.

This marks the second significant agreement between the Greens and the Federal Government in recent weeks, following the Restoring Our Rivers Bill negotiation on the Murray-Darling Basin.