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John Seidel
Principal Project Officer, OEH
25 September 2015
Presentation at the
16th Global Conference on Environmental Taxation
University Technology Sydney
2
Presentation outline
NSW context for biodiversity offsets
Features of the BioBanking program
Implementation experiences and challenges
How the market has valued different types of biodiversity
3
NSW context of biodiversity
offsets
4
Biodiversity offsets
Used to counterbalance impacts of development on biodiversity
Follow efforts to avoid and minimise impacts
Often required as part of a planning approval
Can be required by planning authorities outside these formal processes and negotiated case by case
Majority occurs as part of the approval of state significant projects
5
Policy challenges
OEH involved in negotiating offsets since 1995
Negotiated approach can deliver good outcomes but
considerable variation in:
• scientific basis of assessments
• quantity and quality of offsets
• management, funding, responsibility for offsets
• legal security of offsets
• Location, monitoring/compliance of offsets
6
What is BioBanking?
Voluntary market-based offset
scheme (TSC Act)
Complements other regulated
impact assessment processes
Utilises metrics to assess
biodiversity value and quantify
offset requirements
7
Features of BioBanking
8
Credit system created to provide common measure of impact/gain
Comprehensive framework for offset land that includes:
• Accreditation of assessors
• Integration with NSW Planning framework
• Biobanking Trust Fund
• Compliance and monitoring framework
• Security of outcomes
Supports delivery of offsets/PLC
outcomes for a range of programs
Overview of BioBanking
9
Key concepts
ecosystems credits plant community types
species credits All other threatened species
Conservation/Supply Development/Demand
Landowner Proponent
Biobank site Development site
AGREEMENT (POM) Development consent
Create & sell credits Buy credits
Management actions Retire credits
10
Benefits for private land
conservation & government
BioBanking agreements provide:
• Assessment and recording
• Active management
• Annual payments to
landowners
• Secured on title
• Reporting/auditing
11
• Reduced negotiations on appropriateness of an
offset
• Upfront assessment and offset requirements
• Transparent decision making and rules
• Flexibility in achieving offset requirements
Benefits for industry &
government
12
Implementation experience
13
Overview of outcomes to
date
46 approved agreements (14
applications)
Concentrated in western Sydney
and lower Hunter valley
Over 9,650 hectares of land
Increasing diversification
Range in area from 10 ha to
1,500 ha
Average biobank size –
45 ha greater Sydney region
350 ha regional NSW
14
What biodiversity values are
represented on biobank sites?
0
100
200
300
400
500
600
700
800
900
1,000
1,100
1,200
1,300
1,400
1,500
1,600
1,700
1,800
GrassyWoodlands
DrySclerophyll
(shrub/grass)
Drysclerophyll
forests(shrubby)
Grasslands WetSclerophyll
(grassy)
Wetsclerophyll
forest(shrubby)
Rainforests ForestedWetlands
Heathlands SalineWetlands
FreshwaterWetlands
Total area of each formation that is an EEC Total area of each formation that is not an EEC/CEEC
• 89 Plant Community Types across 11 formations/sub formations
• 19 different endangered or critically endangered ecological communities
• Almost 3,000 ha or 50% of approved sites contain an EEC/CEEC
• Habitat for a wide range of threatened native flora and fauna
15
Improving vegetation condition
0
5
10
15
20
25
30
35
40
0
500
1,000
1,500
2,000
2,500
3,000
0 - 10 >10 - 20 > 20 -30 > 30- 40 > 40 - 50 > 50 - 60 > 60 - 70 >70 - 80 > 80 - 90 > 90 - 100
Pre
dit
ed g
ain
in c
on
dit
ion
fro
m m
anag
emen
t
Are
of
vege
tati
on
in e
ach
co
nd
itio
n p
erce
nti
le
Vegetation condition (percentile scores)
Condition of vegetation on biobank sites (approved and submitted)
Ha vegetation per condition percentile Average gain Max gain in condition
16
The market value of improving
biodiversity
Total trade of over 12,500 credits
Total trade valued almost $67.5M
Credit prices range from $1,100 - $31,465
Capital value in the BTF is $43.5M
Annual stewardship payments to landholders = $6.3M
Buyer developer, government,
conservationist,
philanthropist
Biobank site owner commits
to
protect, manage and improve
biodiversity
BioBanking
Trust Fund
Annual payments for
management actions
Part B
Part A
17
Implementation challenges
• Clear purpose
• Stability
• Capacity building and
engagement
• Creating a credit
market
• Cost effective
• Quantifying
biodiversity values
18
How the market values
different types of biodiversity
19
Cumberland Plain Woodland
• Listed as critically
endangered
• Only known in one region
• Over 420 ha in agreements
• total trades of over $35M –
27% of volume/ 53% of
value
Examples of how the credit
market values biodiversity
20
$-
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
$16,000
$18,000
$0.00
$10,000.00
$20,000.00
$30,000.00
$40,000.00
$50,000.00
$60,000.00
$70,000.00
$80,000.00
$90,000.00
$100,000.00
Co
st o
f C
PW
cre
dit
s p
er
trad
e
Number of trades in CPW credits since May 2012
In-p
erp
etu
ity
con
serv
atio
n c
ost
of
CP
W p
er
he
ctar
e
Market value of Cumberland Plain Woodland credits
CPW - $87,188
Shale sandstone transition forest - $87,188
Average of all other PCTs (Greater Sydney) -
$87,188
21
Examples of how the credit
market values biodiversity
Shale Sandstone Transition Forest
• Endangered on TSC Act &
EPBC Act
• Over 180 ha in agreements
• In perpetuity stewardship
conservation value of SSTF
per ha is about $41,000
Lower Hunter Valley
• Over 1050 ha in agreements
• Variety of ecosystems
• value of trades almost $9 M
• In perpetuity stewardship
conservation value almost
$15,000/ ha
22
Biobanking program:
www.environment.nsw.gov.au/biobanking/
NSW Offsets Policy for Major Projects
http://www.environment.nsw.gov.au/biodivoffsets/bioffsetspol.htm
Email:
biobanking@environment.nsw.gov.au
Discussion/further information
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