Information for developers
A biobanking statement is a voluntary alternative to the current threatened species assessment of significance process under the Environment Planning and Assessment Act 1997.
To obtain a biobanking statement the developer must meet the improve or maintain test for biodiversity values.
A development is considered to improve or maintain biodiversity values if:
- impacts on areas are counter-balanced by the retirement of credits in accordance with BioBanking offset rules
- the impact of a development on on-site and off-site biodiversity values are minimised through on-site measures
- red flag areas (areas that are important for biodiversity conservation and that cannot be easily replaced) are avoided.
The Biobanking Assessment Methodology (the methodology) also provides a clear and transparent framework for biodiversity assessments and calculating offsets in urban NSW. The offsets are measured in terms of biodiversity credits and are determined by the methodology.
If the development does not meet the improve or maintain test, the methodology and credit calculator can be used to help quantify biodiversity offsets for the development.
What are the advantages of BioBanking for developers?
The methodology provides a scientific, repeatable, consistent, and scientifically robust framework which will assist the development industry to have the following benefits:
- greater certainty with respect to their threatened species responsibilities in the development approvals process
- by applying the methodology prior to land purchase, developers will be able to identify any potential threatened species constraints (areas of high conservation value) and forecast the cost of the offset measures that will impact on the financial feasibility of the project
- by establishing the biodiversity market for trading biodiversity credits (credits) the time spent in negotiations for offsetting the impacts of the development (under the current s5A system) will be reduced
- the cost and responsibilities of the offset can be managed by landowners wanting to manage their land for conservation through the purchase of biodiversity credits, thereby avoiding the need for any ongoing responsibilities of the offset by the developer.
Developers can purchase credits from biobank site owners or other owners of biodiversity credits. Developers can also participate in the supply of biodiversity credits by establishing a biobank site (see Guide for Landholders) for example, to manage land for conservation purposes that is not suitable for development. These credits could be used by the developer to offset the impacts on biodiversity values for that development, other developments, or sold on the market.
Guide for developers
The Guide for Developers is designed to assist the development industry to understand BioBanking and how it can help identify land that is suitable for development, use the methodology to assess impacts and offsets, and buy credits.
Download the Guide for developers (08527bbdevguide.pdf, 1.14MB)
Download the BioBanking Statement application form (08431BioBankingStatementForm.pdf, 212KB)