“covenant.” This refers to the New Covenant, whereas the covenant God made with Israel at Mt. Sinai was the “Old Covenant” (usually but mistakenly called the “Old Testament”). The Old Covenant was made with animal blood, while the New Covenant was made with Christ’s blood. There are many aspects to the New Covenant, one of them being that we will live on a restored earth.
[For more on the restored earth, see Appendix 3, “Christ’s Future Kingdom on Earth.”]