NSW Farmers Association - Priority Issue 5

Committee Members
Louise Burge
Chair
Bruce Atkinson
Howard Crozier
Sue Haslington
Malcolm Holm
Bronwyn Petrie
Lorraine Wilson
(Intensive Industry rep)
Rod Young

NSW Farmers'
Association Staff
E nswfarmers@
nswfarmers.org.au

P 02 8251 1700
F 02 8251 1750

Member Service
Centre
1300 794 000

Biodiversity Banking

The NSW Biodiversity Offsets and banking Scheme (BioBanking) is currently on public exhibition around the State. The regulatory impact statement is due to be released in December 2007, with the scheme due to commence in 2008. The scheme will allow farmers to create biobanking credits on their land, which can then be sold on the biobanking market to property developers. Part of the proceeds of the sale must be placed in a Government managed trust fund, which will be used to provide an annuity pay for ongoing management of the credit site. The Department of Environment and Climate Change is holding public information sessions across the State for which locations and times for these sessions are available from http://www.environment.nsw.gov.au/resources/bbinfosessions.pdf

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Biodiversity Banking