INTIEAAustralia · Biodiversity Offsets SchemePolicyIn force

Biodiversity Offsets Scheme

The New South Wales Biodiversity Offsets Scheme (BOS) is the framework for offsetting unavoidable impacts on biodiversity from development with biodiversity gains through landholder stewardship agreements. It was established under the federal Biodiversity Conservation Act 2016.…

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Country / jurisdiction: Australia · Year: 2016 · Status: In force · Level: National · Type: Voluntary

The New South Wales Biodiversity Offsets Scheme (BOS) is the framework for offsetting unavoidable impacts on biodiversity from development with biodiversity gains through landholder stewardship agreements. It was established under the federal Biodiversity Conservation Act 2016. Under the BOS, applications for development or clearing approvals must set out how impacts on biodiversity will be avoided and minimised. The remaining residual impacts can be offset by the purchase and/or retirement of biodiversity credits or payment to the Biodiversity Conservation Fund.

Landholders can establish Biodiversity Stewardship Agreements on their land to generate biodiversity credits. Selling these credits provides funding to support the long-term management of the biodiversity stewardship site.

Official source: https://www.environment.nsw.gov.au/topics/animals-and-plants/biodiversity-offsets-scheme/about-the-biodiversity-offsets-scheme

Source

https://www.iea.org/policies/18026

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