The Australian Government reached a deal with the Greens to overhaul the environmental law framework, framing it as a win for both business and the environment, and moving to reform the Environment Protection and Biodiversity Conservation (EPBC) Act after years of effort.

Further details about the agreement and its terms are expected to be released in the coming days as negotiations wrap up.

Greens concessions include tighter definitions of unacceptable impacts and net gain, and a 14-day limit on new stop-work orders issued by the National Environmental Protection Authority.

A $300 million fund will assist the forestry sector in transitioning toward plantation timber usage.

The Coalition, led by Sussan Ley, remains sidelined for now as Greens did not grant all business-friendly concessions the coalition sought.

Prime Minister Anthony Albanese announced the deal shortly after eight in the morning, signaling a significant political win for Labor.

Greens leader Larissa Waters stressed the package strengthens environmental protections and acknowledged ongoing work to curb fossil fuel industry impact.

Albanese personally engaged with Greens leader Larissa Waters in the closing stages to resolve the standoff driving the negotiations.

Greens secured additional concessions from the government amid lengthy negotiations, shaping the final package.

The legislation is poised to pass the Senate on the day’s final sitting, marking a milestone for the EPBC rewrite.

Greens won concessions including phasing out native forestry exemptions, ensuring logging meets new standards, and excluding fast-tracked assessments for coal and gas projects.

The new framework creates a National Environment Protection Agency, establishes national standards, and allows the Commonwealth to strike agreements for State assessments under Federal laws for certain projects.