The Biodiversity Banking and Offsets Scheme (Biobanking) is a new scheme designed to allow for the trading of biodiversity values. The aim is to provide a systematic and consistent framework for offesting the impacts of development to achieve an "improve or maintain" outcome for Biodiversity values. In, reality, the scheme in its current form will have potentially disastrous environmental outcomes. The methodology and the regulations for the scheme are still in development.
To view an NCC Fact sheet on Biobanking: click here
To view NCC news and information on Biobanking, check out the blogs below:
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 The Nature Conservation Council, Total Environment Centre and National Parks Association have condemned proposals by the NSW governnment that could allow developers to destroy populations of threatened species under the state's controversial biocertification scheme.
The scheme's 'like for like' principle for offsets has been abandoned so that an endangered frog, bird or animal can be offset by a tree somewhere else in the state. The Sydney Morning Herald reported the plan, "... includes provisions for cash payments for building on the habitat of certain animals if no suitable offset can be found". (Biodiversity plan poses threat to rare species by Ben Cubby . SMH 02/08/2010) Read the joint media release here. |
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 The public exhibition period for the controversial NSW Biodiversity Banking and Offsets Scheme (BioBanking), being introduced by the NSW Department of Environment and Climate Change (DECC), will begin in November 2007. The scheme is due to commence in early 2008.
Dates for public exhibition will be released shortly by DECC. DECC will be holding information sessions for the public at regional locations in November. |
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 The BioBanking Ministerial Review Group continues to meet monthly--reviewing the methodology, the results of the pilot project, the regulations, etc. Environmental representatives in the group are Rachel Walmsley of the Environmental Defenders Office and Jeff Angel of Total Environment Centre.
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| | According to the Biodiversity Banking Committee Manager (he has been difficult to track down) it appears that the murmurs re: the committee not being re-established are true. The only part of the inquiry that was binding by legislation was the first part (i.e. overseeing the trial period of the scheme) but that had an escape clause. Because the committee did not get it together in 6 months, which expired in June, there is now nothing compelling the re-establishment of the committee.
The second part, regarding the application to the Native Veg Act, was also not bound by legislation.
View the NCC Submission, click here
View the Joint Environment Groups Submission click here
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 The highly controversial Threatened Species Amendment (Biodiversity Banking) Bill 2006 passed through the NSW Upper House on 21 November, signalling a new era of Government cooperation with the mining and property development lobbies, and divorce from the conservation movement. |
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