Biodiversity Conservation Trust
Fact Sheet
Sustain. Invest. Protect. A new approach to land management and conservation in NSW
The Biodiversity Conservation Trust The NSW Government will establish the Biodiversity Conservation Trust (the Trust) – the first of its kind to manage government investment in conservation on private land and expand the NSW biodiversity offsets scheme. The Biodiversity Conservation Trust will replace the Nature Conservation Trust. It will: »» work with private landholders to invest in conservation in line with the government’s Biodiversity Conservation Investment Strategy »» determine biodiversity offsets when an applicant chooses to pay into the Biodiversity Conservation Fund »» engage with private landholders to target biodiversity that is important to retain and enter into and manage private land conservation agreements with them »» continue functions of the existing Nature Conservation Trust, such as buying and selling private rural land with a legally binding conservation agreement attached. What is the Biodiversity Conservation Fund?
The Biodiversity Conservation Fund is where applicants can choose to pay to meet development offset obligations.
What is a biodiversity credit?
A biodiversity credit is the expected biodiversity gain from protecting and managing land. Credits can be sold or used to offset development.
How are biodiversity credits determined?
Landowners will engage an accredited assessor to determine expected biodiversity gains from protecting and managing land. The assessment will be used to calculate the credit value.
The Trust will be a not-for-profit statutory body, managed by a board appointed by the Minister for the Environment, in consultation with the Ministers for Planning and Primary Industries. Regular reporting will ensure the Trust is accountable to the public for its performance, including investment of public funds in private land conservation. The Trust will establish close working relationships with landholders to support and encourage their participation in private land conservation, where appropriate.
3 May 2016
Private land conservation For the first time in NSW, the government will provide direct investment to encourage and assist private land owners to actively manage and conserve their land. The Trust will work with landholders to create awareness of funding opportunities for protecting and managing native vegetation. The Trust will enter into agreements with private landholders to administer conservation outcomes by: »» investing in private land conservation »» conserving and managing biodiversity on their land that can be used to offset biodiversity impacts from development »» actively supporting landholders to achieve conservation outcomes for the overall benefit of the State. The Trust will make annual payments to landholders under Biodiversity Stewardship Agreements to support active management of the land in perpetuity.
Offsets For the first time, landholders and developers can choose a faster and more direct way to meet offset obligations by paying money into a new Biodiversity Conservation Fund
managed by the Trust. Applicants can still source biodiversity offsets themselves or use a third-party broker. Once payment is made, the Trust becomes responsible for finding offsets. The Trust must meet the offset obligations consistent with the rules of the NSW Biodiversity Offsets Scheme. The Fund will support the growth of the biodiversity offsets credit market. The Trust will be able to pool offset obligations and funds (including public investment in private land conservation and developer payments) to establish larger and more viable offset sites.
Calculations An offsets payment calculator will determine how much an applicant must pay into the Fund to satisfy an offset obligation, reflecting all costs incurred by the Trust in meeting each obligation. The calculator will also include the value to an applicant of transferring the responsibility of finding biodiversity credits to the Trust. The calculator will be publicly available online.
More Information For more information, visit http://landmanagement.nsw.gov.au
Have your say on the proposed changes We want to hear if you think the Independent Biodiversity Legislation Review Panel’s recommendations are reflected in the Biodiversity reforms consultation package. Communities, farmers and environmental groups are invited to participate in the consultation process. You can have your say online at http://landmanagement.nsw.gov. au/haveyoursay/ or send your written submission to: Biodiversity Reforms - Have Your Say Office of Environment and Heritage PO Box A290 Sydney South NSW 1232 Submissions close on 28 June 2016 at 5pm.
Sustain. Invest. Protect. A new approach to land management and conservation in NSW
The Biodiversity Conservation Trust The NSW Government will establish the Biodiversity Conservation Trust (the Trust) – the first of its kind to manage government investment in conservation on private land and expand the NSW biodiversity offsets scheme. The Biodiversity Conservation Trust will replace the Nature Conservation Trust. It will: »» work with private landholders to invest in conservation in line with the government’s Biodiversity Conservation Investment Strategy »» determine biodiversity offsets when an applicant chooses to pay into the Biodiversity Conservation Fund »» engage with private landholders to target biodiversity that is important to retain and enter into and manage private land conservation agreements with them »» continue functions of the existing Nature Conservation Trust, such as buying and selling private rural land with a legally binding conservation agreement attached. What is the Biodiversity Conservation Fund?
The Biodiversity Conservation Fund is where applicants can choose to pay to meet development offset obligations.
What is a biodiversity credit?
A biodiversity credit is the expected biodiversity gain from protecting and managing land. Credits can be sold or used to offset development.
How are biodiversity credits determined?
Landowners will engage an accredited assessor to determine expected biodiversity gains from protecting and managing land. The assessment will be used to calculate the credit value.
The Trust will be a not-for-profit statutory body, managed by a board appointed by the Minister for the Environment, in consultation with the Ministers for Planning and Primary Industries. Regular reporting will ensure the Trust is accountable to the public for its performance, including investment of public funds in private land conservation. The Trust will establish close working relationships with landholders to support and encourage their participation in private land conservation, where appropriate.
3 May 2016
Private land conservation For the first time in NSW, the government will provide direct investment to encourage and assist private land owners to actively manage and conserve their land. The Trust will work with landholders to create awareness of funding opportunities for protecting and managing native vegetation. The Trust will enter into agreements with private landholders to administer conservation outcomes by: »» investing in private land conservation »» conserving and managing biodiversity on their land that can be used to offset biodiversity impacts from development »» actively supporting landholders to achieve conservation outcomes for the overall benefit of the State. The Trust will make annual payments to landholders under Biodiversity Stewardship Agreements to support active management of the land in perpetuity.
Offsets For the first time, landholders and developers can choose a faster and more direct way to meet offset obligations by paying money into a new Biodiversity Conservation Fund
managed by the Trust. Applicants can still source biodiversity offsets themselves or use a third-party broker. Once payment is made, the Trust becomes responsible for finding offsets. The Trust must meet the offset obligations consistent with the rules of the NSW Biodiversity Offsets Scheme. The Fund will support the growth of the biodiversity offsets credit market. The Trust will be able to pool offset obligations and funds (including public investment in private land conservation and developer payments) to establish larger and more viable offset sites.
Calculations An offsets payment calculator will determine how much an applicant must pay into the Fund to satisfy an offset obligation, reflecting all costs incurred by the Trust in meeting each obligation. The calculator will also include the value to an applicant of transferring the responsibility of finding biodiversity credits to the Trust. The calculator will be publicly available online.
More Information For more information, visit http://landmanagement.nsw.gov.au
Have your say on the proposed changes We want to hear if you think the Independent Biodiversity Legislation Review Panel’s recommendations are reflected in the Biodiversity reforms consultation package. Communities, farmers and environmental groups are invited to participate in the consultation process. You can have your say online at http://landmanagement.nsw.gov. au/haveyoursay/ or send your written submission to: Biodiversity Reforms - Have Your Say Office of Environment and Heritage PO Box A290 Sydney South NSW 1232 Submissions close on 28 June 2016 at 5pm.
