The New South Wales Biodiversity Offset Scheme is a market-based scheme that brings together:
• landowners who create 'biodiversity credits' by establishing a Biodiversity Stewardship Site on their land, and
• purchasers who buy the biodiversity offset credits created.
Purchasers of biodiversity offset credits may be the NSW Government Biodiversity Conservation Trust (BCT) or developers wanting to ‘offset’ biodiversity loss from a new development site. Conservation groups, philanthropists and government departments may also be interested in purchasing and 'retiring' biodiversity offset credits.
The NSW Biodiversity Offset Scheme provides a mechanism for landowners to manage their land for conservation and receive payment for doing so. The scheme is voluntary and supports landowners to take care of their bushland in perpetuity and pays for them to do it, this is done through registering a Biodiversity Stewardship Site which generates biodiversity offset credits which the landowner can then sell to anyone who wishes to buy such credits.
There are many different types of biodiversity offset credit, but they belong to two broad credit types:
1. Ecosystem Credits - native vegetation 'Plant Community Types'
2. Species Credits - certain threatened species such as Koala, Squirrel Glider, Powerful Owl, Glossy Black Cockatoo, Green and Golden Bell Frog and many more.
Who buys Biodiversity Offset Credits and how much money do they pay?
Every type of biodiversity offset credit has a 'price floor' which is the price set by the NSW Biodiversity Conservation Trust. This information is public and available from the NSW Biodiversity Offset Payment Calculator
There is a public market place where parties can buy and sell biodiversity offset credits. Developers who are required to meet their offset obligations for project approval can advertise credits wanted in this market place. Likewise, owners of biodiversity offset credits can list the credits they have for sale on this market place.
The NSW BCT is the single biggest purchaser of biodiversity offset credits. The BCT list all of the offset credits they wish to buy on their website
How Can I Establish a Biodiversity Stewardship Site and Earn Biodiversity Offset Credits?
Accredited Biodiversity Assessors like Land Eco Consulting are the only parties who are legally permitted to undertake the assessments required to establish a Biodiversity Stewardship Site and generate biodiversity offset credits for a landowner.
Land Eco have extensive experience in assisting clients establish Biodiversity Stewardship Sites to create Biodiversity Offset Credits.
Land Eco also provide a service to help you find and trade Biodiversity Offset Credits.
If you wish to explore the potential to establish a Biodiversity Stewardship Site and earn credits contact Land Eco Consulting today
P: 0408 765 832
If you are a landholder and are interested in establishing a Biodiversity Stewardship Site to earn Biodiversity Offset Credits contact Land Eco today!
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