Are baby nests safe for newborn babies? Or are they a SIDS risk?

Red Nose recommends that the safest place to sleep baby is in a cot that meets the mandatory Australian Standards.
Cots & Portable Cots are the only products designed for sleeping baby, that have Mandatory Standards from Product Safety Australia.

It is important that baby sleeps on a firm, well-fitting & flat, not elevated, based with no soft, padded sides.
Ensure there is no soft bedding in baby’s sleep environment.
Soft bedding (pillows, doonas, loose bedding or fabric, lambswool, bumpers or soft toys) in the cot is unnecessary and may cover baby’s face and obstruct baby’s breathing
Most baby nests have soft padded sides that may also pose a risk to baby.