Description

This report is a visualisation platform that applies the United Nations System of Environmental-Economic Accounting concepts and accounting rules to report on the performance of the NSW Biodiversity Banking and Offsets Scheme (the BioBanking Scheme). Through this platform, you can view accounts related to the Environmental Activity Accounts, which currently include information about ecosystem and species credit flows, stocks and market transactions. These biodiversity credits are created based on the BioBanking Assessment Methodology (BBAM), and all accounts contain data sourced from the BBAM Public Registers.

This platform was designed to answer key questions such as: 

• What changes have occurred in the volume of biodiversity credits created under the BioBanking Scheme? 
•  What changes have occurred in the volume of biodiversity credits transferred, and what changes have occurred in the volume of credits retired? 
• How has the biodiversity offsets market size changed since its establishment? 
• How have the prices of these credits changed?

Background

The BioBanking Program was an offsets scheme established under Part 7A of the Threatened Species Conservation Act 1995 (NSW). It began in July 2008 and was superseded by the Biodiversity Offsets Scheme (BOS) when the Biodiversity Conservation Act 2016 (NSW) commenced on 25 August 2017, although credit transactions and retirements have continued under transitional arrangements. The BioBanking Program was underpinned by the BioBanking Assessment Methodology (BBAM), which was a framework for the repeatable and transparent assessment of biodiversity impacts at development sites and biodiversity gains on biobanking agreement sites.

BioBanking Agreements established under the BioBanking Scheme remain in place and are managed under the Biodiversity Conservation Act 2016 (NSW) as Biodiversity Stewardship Agreements. Landowners continue to undertake management activities under these agreements, and the Biodiversity Conservation Trust is responsible for the administration of annual payments. Questions about existing BioBanking Agreements should be directed to the Biodiversity Conservation Trust: [email protected].

BioBanking credits generated under the previous scheme may still be retired against credit obligations assessed under the BioBanking Scheme. There is also a process to determine the reasonable equivalence of BioBanking credits with biodiversity credits under the current Biodiversity Offsets Scheme (BOS). 

Tile image: Nicola Brookhouse/DCCEEW

Attribution: © State Government of NSW and Department Climate Change, Energy, the Environment and Water. 20YY, Natural Capital Economics Evidence Bank, - BioBanking Assessment Methodology (BBAM) 2010 to 2022 Experimental Accounts for NSW. [Dashboard Page title]. Version [Month 20YY].  Accessed from The NCA Hub.