You will be required to apply for this registration if you intend to retire biodiversity credits purchased or obtained under the Biobanking Scheme. The Scheme enables biodiversity credits to be generated by landowners who commit to enhancing and protecting biodiversity values on their land through a Biobanking Agreement. These credits can then be sold to:
- companies seeking to counterbalance (or offset) the impacts of their development activities on biodiversity values, or
- entities seeking to invest in conservation outcomes.
You may retire biodiversity credits in order to offset the impact of development activities undertaken by your business. Credits may also be voluntarily retired to improve overall environmental outcomes in the State. Once credits have been retired, they may no longer be traded.
Please consult the Contact Officer for more information.