How to pay into the Biodiversity Conservation Fund
Under the Biodiversity Conservation Act 2016, development proponents may choose to pay into the Biodiversity Conservation Fund as an alternative to retiring biodiversity credits.
Proponents may only pay into the fund once a consent authority has issued conditions of consent that specify the number and type of credits to be retired. Proponents can choose to use the fund to meet their offset obligations immediately – they do not have to first try to find their own offsets.
If a proponent holds an offset obligation that was calculated using the BioBanking Assessment Methodology (BBAM) or Framework for Biodiversity Assessment (FBA), they will need to seek a ‘credit equivalence’ statement from the Office of Environment and Heritage (OEH) before paying into the Biodiversity Conservation Fund – for further information, please call 1800 931 717 or email email@example.com.
Paying into the Biodiversity Conservation Fund
Where an offset obligation has been calculated using the Biodiversity Assessment Method (BAM) or OEH has issued a ‘credit equivalence’ statement confirming BAM-equivalent credits, proponents may apply to the BCT to make a payment into the Biodiversity Conservation Fund (BCF).
The BCT will review the application and advise the proponent in writing whether the proposed payment can be made (including by providing fund deposit details).
Following receipt of payment, the BCT will issue proponents with a certificate under section 6.33 of the Biodiversity Conservation Act 2016. Proponents may use this certificate to prove to the consent authority that they have met their offset obligations.
Your application form is here.