Offsets for environmental damage

Wednesday, 21 November 2007 23:56

Biobanking was developed by the NSW Government during 2006 and legislation was passed by Parliament.  It aims to apply an environmental assessment methodology to urban, mining and industrial land clearing proposals to assess what offsets may be required.   The developer then needs to buy biodiversity credits based on native vegetation that meets the offset and needs to be better protected or managed.

That's the theory but will it work?  Environment groups don't think so as the government's model is optional (developers can cherry-pick weaker processes and bypass biobanking).  As a result, the whip hand is with the developers who are telling the government that if Biobanking is to be used by them, then it must be a weak instrument that does not stand in the way of more urban development in biodiverse areas. 

Biobanking also creates a separate set of rules for land clearing to those that apply to farmers.  It's not equitable.

Biobanking Methodology Review (12/12/07 

Biobanking - Red flag variation concerns (21/11/07)

Biobanking critique  (2006)  

In 2002, the peak environment groups issued a critique about offsets.