Offset rules for the Biodiversity Conservation Trust

The Biodiversity Conservation Trust uses the following offset rules for meeting offset obligations. The hierarchy is:

1. retiring credits under the like-for-like rules or funding a biodiversity conservation action that benefits the impacted threatened species listed in the ancillary rules
2. retiring credits under the variation rules, noting they can be applied to any threatened entity
3. funding a biodiversity conservation action that benefits the impacted threatened species, ecological community or their habitats. This does not need to be listed in the ancillary rules
4. retiring credits under the variation rules (these can be generated from anywhere in New South Wales; thus, the location requirement in the variation rules does not apply)
5. using any other conservation measure approved by the Minister for the Environment.

The trust has more flexibility than proponents (scheme participants) in its offset hierarchy to ensure it can meet its offset obligations.

The Biodiversity Conservation Regulation 2017 (NSW) requires the Trust to detail how it has applied the offset rules in its annual report together with reasons for use of offsets that are not like-for-like.  

Biodiversity Conservation Trust