Sell Biodiversity Credits to the BCT
If you have an existing Biodiversity Stewardship Agreement (BSAs) or BioBanking Agreement, you might be interested in selling your biodiversity Credits to the BCT.
The BCT’s Biodiversity Offsets Program is responsible for securing biodiversity offsets when developers choose to meet their offset obligation by paying into the Biodiversity Conservation Fund.
We will secure offsets by buying biodiversity credits from landholders who have existing Biodiversity Stewardship Agreements (BSAs) or BioBanking Agreements or by working with landowners to establish new BSAs that will generate credits the BCT can then purchase at an agreed price.
The Biodiversity Offsets Program will initially use three delivery mechanisms to secure biodiversity credits needed to meet developer offset obligations:
- Biodiversity Credits Tenders
- Biodiversity Credits Fixed Price Offers
- The BCT's Revolving Fund
Selling your credits through a Biodiversity Credits Tender - how does it work?
- The BCT identifies wanted credits suitable for acquisition through a Biodiversity Credits Tender.
- Credit owners and, in some cases landowners able to generate the wanted credits from a new BSA, are invited to submit a tender bid to sell credits to the BCT.
- Offered bids are competitive. Bids are evaluated on price, but other factors may be considered (strategic conservation outcomes) as set out in the landholder guide for each tender.
- Where a reasonable supply of existing credits is available on the market, Biodiversity Credits Tenders may be ‘targeted’ to existing credit owners only.
- Where there is high potential for further supply through new BSAs, the Biodiversity Credits Tender will be ‘open’ and the BCT will accept bids from landholders yet to establish a BSA.
- Successful bids will be offered an agreement to purchase credits. In the case of open Biodiversity Credits Tenders, the BCT may provide technical and financial assistance to landholders whose successful bid requires the establishment of a new BSA.
- The BCT purchases credits of successful bids and credits are removed from the Credits Wanted Register.
OPEN NOW - Statewide Biodiversity Credit Tender
The BCT is seeking to purchase biodiversity credits that represent like-for-like equivalent credits for a variety of credit classes as listed here.
The tender is open to anyone who:
- owns existing biodiversity credits established under the former BioBanking Scheme or NSW Biodiversity Offsets Scheme; and/or
- has an existing application for a Biodiversity Stewardship Agreement currently being processed by the BCT that includes target biodiversity credits.
Owners of credits created under the former BioBanking Scheme will need to submit a completed Application for an assessment of reasonable equivalence of biodiversity credits - existing BioBanking credits form when lodging a tender bid. This is to allow the BCT to evaluate bids for all credits equitably. When lodging a tender bid, credit owners will be asked to give permission for OEH to provide the results of the equivalence statement to the BCT. The Application for an assessment of reasonable equivalence of biodiversity credits form is available on the OEH website here.
The biodiversity credit tender is a confidential, reverse auction in which credit owners get to nominate the prices at which they are prepared to sell their existing (or pending) credits.
The tender period opened on 1 July 2019 and will close on 19 July 2019.
Further information on the tender including a Landholder Guide, FAQ sheet and tender bid form, is available here.
Closed Biodiversity Credit Tenders
Information about closed Biodiversity Credit Tenders is available on this page.
Selling your credits through a Biodiversity Credits Fixed Rate Offer - how does it work?
- The BCT offers to buy wanted credits at a set price.
- Credit owners, landowners able to generate the wanted credits from a new BSA, or conservation brokers, can respond to the BCT’s offer.
- Offers to sell credits are accepted on a ‘first come – first serve’ basis.
- Where only a single supplier of wanted credits is identified, the BCT may make a ‘targeted’ Biodiversity Credits Fixed Rate Offer to the credit owner or landholder.
- Where there are potentially multiple suppliers of wanted credits, the offer will be ‘open’ and the BCT will accept bid offers from landholders yet to establish a BSA.
- Once an offer is accepted, the BCT will establish an agreement to purchase credits. In the case of open Biodiversity Credits Fixed Rate Offers, the BCT may provide technical and financial assistance to landholders to establish a new BSA.
- Once an agreement has been established, credits are removed from the Credits Wanted Register.
There are no biodiversity credit fixed price offers currently operating.
Information on future fixed price offers will be available here soon.
How do we secure Biodiversity Credits through our Revolving Fund?
The BCT’s third delivery mechanism for this program is the BCT Revolving Fund. The BCT will use the Revolving Fund in limited circumstances to secure wanted biodiversity credits.
The BCT uses its Revolving Fund to purchase properties available in the real estate market that have proven capacity to generate wanted credits. The BCT then establishes a BSA on the some or all of the property, then re-sells the property in the real estate market. Purchasers must be willing to buy the property knowing it comes with the responsibilities of a BSA.
Conservation Management Actions
Under the Biodiversity Offset Scheme rules, BCT may sometimes be required to fund biodiversity conservation actions, instead of procuring site-based offsets. BCT may identify and fund high-priority investment options or may invite tenders to supply conservation projects.
Visit the BCT Biodiversity Credits Wanted page to get more information on the biodiversity credits wanted by the BCT and the mechanisms we will use to purchase them.