Exploring the Use of BBAM 2010-2022 Experimental Accounts for Tracking Biodiversity Credit Market Performance
I’m eager to hear everyone’s thoughts on how we can use these accounts to gain new insights and track the biodiversity credit market in fresh and meaningful ways.
I propose the following discussion points:
I’m eager to hear everyone’s thoughts on how we can use these accounts to gain new insights and track the biodiversity credit market in fresh and meaningful ways.
I propose the following discussion points:
- New Tracking Ideas: How can we use the BBAM accounts to create better ways to measure how well the market is doing and its impact?
- Looking Back and Forward: What can we learn from comparing past data with current trends to improve our understanding of the market?
- Improving the Market: How can the insights from these accounts help us make the biodiversity credit market more efficient and trustworthy?
- Shaping the Future: How can we use what we learn from these accounts to guide future policies and market changes?
Your input is crucial for advancing our understanding and improving the market. Please share your ideas, ask questions, and let’s work together to make a meaningful impact. I’m excited to see what we can achieve with your insights!
Type
Question
Topic
Natural Capital Accounts
BioBanking Assessment Methodology (BBAM) 2010 to 2022 Experimental Accounts for
Overview
#Description
This report is a visualization 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. 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 p...
#Description
This report is a visualization 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. 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 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.
##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.
Interesting discussion points Rogelio. Here are some very initial thoughts/suggestions... New Tracking Ideas: Deveolpment of a composite index from BBAM account data. Combine various mmetrics from the BBAM accounts. This could provide an objective measure of market health over time and also provide
Interesting discussion points Rogelio. Here are some very initial thoughts/suggestions...
New Tracking Ideas:
Looking Back and Forward:
Improving the Market:
Shaping the future:
Hi Andrew, I really like the idea of creating a composite index using BBAM account data (and later, BAM data once it's available). From what I understand, DCCEEW is already developing a new biodiversity credits sales dashboard, which will include a composite index for market prices of credits. It
Hi Andrew, I really like the idea of creating a composite index using BBAM account data (and later, BAM data once it's available). From what I understand, DCCEEW is already developing a new biodiversity credits sales dashboard, which will include a composite index for market prices of credits. It might be worth considering a similar composite index to track the dynamics of credit generation and retirements as well.
The bivariate choropleth maps sound like an excellent solution. Could you please share an example of what these maps would look like?
It seems many of your ideas could be incorporated into the new biodiversity credits sales dashboard, which will also feature a section with various market performance indicators. I’m looking forward to seeing the public release of the updated dashboard!
Thanks Rogelio. They were just some initial ideas to hopefully promote thought and facilitate discussion (much like your post!) Interesting. I'd be curious to see what that composite index looks like and how it's calculated and what the dynamics of credit generation and retirements might look like
Thanks Rogelio. They were just some initial ideas to hopefully promote thought and facilitate discussion (much like your post!)
Interesting. I'd be curious to see what that composite index looks like and how it's calculated and what the dynamics of credit generation and retirements might look like.
Sure. Here's a link to an example of a bivariate choropleth map. It shows the level of insurance vs donations for counties across (as categorical variables) the US. You could do something similar with different levels of categorical data https://www.joshuastevens.net/images/js_finalBivariateMap.png