What is a biodiversity offset management plan?

Biodiversity offsets are measurable conservation outcomes resulting from actions designed to compensate for significant residual adverse biodiversity impacts arising from project development10 after appropriate prevention and mitigation measures have been taken.

What is the biodiversity offset scheme?

The Biodiversity Offsets Scheme is the framework for offsetting unavoidable impacts on biodiversity from development with biodiversity gains through landholder stewardship agreements. … Landholders can establish Biodiversity Stewardship Agreements to create offset sites on their land to generate biodiversity credits.

What is biodiversity offsetting and how would it work?

How does offsetting work? Biodiversity offsetting is based on the theory that biodiversity values gained at an offset site will compensate for biodiversity values lost to development at another location to achieve a standard of ‘no net loss’ of biodiversity.

What is offsetting in planning?

Biodiversity offsetting is about compensating that damage, typically via habitat restoration, land management, or by establishment of new protected areas. Offsets are the fourth step of the so-called mitigation hierarchy, in which ecological damage is first avoided, minimized second, and third restored locally.

What is a biodiversity credit?

Biodiversity credits are the common unit of measure for offsets in the Biodiversity Offsets Scheme and the previous BioBanking Scheme. Biodiversity credits are used to measure both: … the predicted improvement in biodiversity condition gain at a stewardship site.

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When did biodiversity offsetting start?

United States: In the US, biodiversity offsetting was initially incorporated into compensatory mitigation laws for wetlands in the United States in the 1970s but market-based schemes, relying on a habitat ‘bank’ to secure the offset, are now used for a wide range of habitats and individual threatened species.

Does biodiversity offsetting work?

However, there is so far mixed evidence that biodiversity offsets successfully counteract the biodiversity losses caused by associated developments, with no evidence that offsets have yet successfully compensated for the loss of forested habitats, and evidence that offsets have sometimes successfully achieved no net …

What are offsetting measures?

A carbon offset is a reduction or removal of emissions of carbon dioxide or other greenhouse gases made in order to compensate for emissions made elsewhere. Offsets are measured in tonnes of carbon dioxide-equivalent (CO2e).

What is offset mitigation?

Biodiversity offsets are the last step in the mitigation hierarchy. … Offset: measures taken to compensate for any significant residual, adverse impacts that cannot be avoided, minimised and/or rehabilitated or restored, in order to achieve no net loss or preferably a net gain of biodiversity.

What is an offset area?

An environmental offset compensates for unavoidable impacts on significant environmental matters, (e.g. valuable species and ecosystems) on one site, by securing land at another site, and managing that land over a period of time, to replace those significant environmental matters which were lost.

What is biodiversity net gain?

Biodiversity Net Gain is an approach to development that leaves biodiversity in a better state than before. … Biodiversity net gain still relies on the application of the mitigation hierarchy to avoid, mitigate or compensate for biodiversity losses. It is additional to these approaches, not instead of them.

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What is mitigation hierarchy?

What is the Mitigation Hierarchy? … The hierarchy follows avoidance, minimization, restoration and offsets in order to reduce development impacts and control any negative effects on the environment.

How do biodiversity credits work?

Landowners in NSW can generate credits by establishing biodiversity stewardship sites. They do this through setting aside and managing tracts of their land in return for classes of credits, which can be publicly traded. There is a statutory process to register these sites.

What is a biodiversity stewardship site?

What is a BSA? Biodiversity Stewardship Agreements are in-perpetuity agreements, registered on the property title. The land is protected and managed to achieve an improvement in biodiversity values. This generates ‘biodiversity credits’ which can be sold to offset the impacts of approved developments elsewhere.

What is BioBanking scheme?

BioBanking was a voluntary biodiversity offset scheme aimed at helping to address the loss of biodiversity values by habitat degradation and loss. … Credits could be used to offset the impacts on biodiversity values that occur as a result of development.