Both Developers and Landowners are required to engage an accredited assessor to assess the biodiversity being damaged or preserved on development or landowner sites respectively.
In the case of a development, the assessor will complete a Biodiversity Development Assessment Report (BDAR) to determine the number and type of credits needed to be purchased and retired by the developer to offset the damage to biodiversity from their development. The BDAR is to be submitted and approved with the Development Application and the credits purchased and retired before the development can commence.
In the case of a landowner, the assessor will complete a Biodiversity Stewardship Site Assessment Report (BSSAR) to determine the type and quantity of credits created from a stewardship site and the ongoing management actions required to preserve and enhance the biodiversity of the site.
The stewardship site is registered with the BCT under a Biodiversity Stewardship Agreement (BSA) and the credits from the site are registered with DEES and are then available for sale.
On the sale of credits the calculated cost of the ongoing management actions, known as the Total Fund Deposit (TFD), must be deposited into a government trust fund. Income from this fund is paid back to the landowner annually in perpetuity to manage the site. Any proceeds from the sale of credits over and above the TFD amount are retained as profit by the landowner. Ongoing reports and audits are required to ensure the management actions are being met.
BDS can assist with an initial assessment and benefit/risk analysis to determine the viability and potential returns of a site. We can also assist you with full assessment requirements, stewardship site registration and sale of credits to help you achieve the best possible returns from a site.