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 Biobanking Program in NSW. In this platform you can view accounts related to the Environmental Activity Accounts, which currently includes information about ecosystem and species credits flows, stocks and market transactions. These biodiversity credits are created based on BioBanking Assessment Methodology (BBAM) and all accounts contain data sourced from the BBAM Public Registers.

What kind of questions was this account designed to answer

• What changes have occurred in the volume of biodiversity credits generated by landowners?
• What variations have been noted in the volume of biodiversity credits transferred to and retired by developers?
• How has the biodiversity offsets market size changed since its establishment
• How have the prices of these credits changed, and what is the correlation with the biodiversity credits’ stock movements?

Disclaimer:

The BioBanking Program was a voluntary 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 It began in July 2008 and was superseded by the Biodiversity Offsets Scheme (BOS) when the Biodiversity Conservation Act 2016 (NSW) commenced on 25 August 2017.

The BioBanking Scheme 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 at offset sites.

Existing BioBanking Agreements

Existing BioBanking Agreements remain in place and are managed under the Biodiversity Conservation Act 2016 (NSW) as Biodiversity Stewardship Agreements. The Biodiversity Conservation Trust is responsible for the ongoing management of these agreements, including: 

• administration of annual reports

• annual payments.

  Questions about existing BioBanking Agreements should be directed to the Biodiversity Conservation Trust: [email protected]. 

Unsold BioBanking credits

Unsold credits generated through a BioBanking agreement established under the previous scheme remain valid. Developers and Landholders may continue to transfer and retire BioBanking credits where relevant or apply for reasonable equivalence under the current Biodiversity Offsets Scheme.  Learn about applying for an assessment of reasonable credit equivalence.
 

Transferring and retiring BioBanking credits

BioBanking credits generated under the previous scheme may still be retired against credit obligations assessed under the BioBanking Scheme. However, the department has also developed a process to determine the reasonable equivalence of BioBanking credits with biodiversity credits under the current Biodiversity Offsets Scheme (BOS), which is based on the Biodiversity Assessment method (BAM). 

When Developers and/or credit holders receive a determination of reasonable credit equivalence, they keep and own the same BioBanking credits, but they have a legal document (determination) that allows them to trade them in the current 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.