How to apply
To apply for an assessment of reasonable credit equivalence for your BioBanking credits, you will must:
complete the
- attach a current BioBanking credit ownership report to the application
- attach proof of identity for the credit owner and any person signing the form on behalf of the credit owner
- attach documentary evidence of any legal authority required to execute an application for assessment of reasonable equivalence of biodiversity credits (for example, power of attorney, executor, trustee or company director).
For further advice, refer to the Authority to sign and proof of identity practice guideline [PDF 3MB]
The department may take more steps to confirm your identity and you will need to provide your consent to this. To find out more about how we use personal information, please read about our commitment to privacy and security.
Completion, submission and assessment of the form
- If you have species credits you will need to submit the Geographic Information System (GIS) shape files relevant to those calculations with your completed application form. These files should also include the vegetation zones from the BioBanking Credit Calculator Report.
- Submit your completed form and all relevant attachments to the Biodiversity Offsets Scheme credits mailbox at [email protected].
- The Environment Agency Head delegate will consider and make a determination on the reasonable equivalence of BioBanking credits on a case-by-case basis using information supplied in the application form.
Assessing an application
When a request for reasonable equivalence is made for the purpose of determining the reasonably equivalent Biodiversity Offsets Scheme credits from BioBanking credits, we:
- apply an assessment to all the BioBanking credits from the original BioBanking Agreement, regardless of whether they are owned by multiple owners
- only supply information that relates to the BioBanking credits you own
- will provide you with an assessment of all of the BioBanking credits you own from this credit holding (we will not do a partial assessment).
Calculations resulting in a value of 0 will be rounded up to 1.
Method to determine reasonable equivalence for ecosystem credits
We will determine the number and type of Biodiversity Offsets Scheme ecosystem credits that are reasonably equivalent by applying the Biodiversity Assessment Method as per equation 4 to the approved area of each vegetation zone or part vegetation zone.
Vegetation integrity gain is calculated based on the BioBanking Assessment Method (BBAM) site value score, averted loss and security benefit scores.
A percentage reduction for sites with an existing conservation obligation is based on the original BioBanking Assessment Method percentage reduction. The class of credit will be updated using information from the BioBanking Assessment Report.
Method to determine reasonable equivalence for fauna species credits
We will determine the number and type of Biodiversity Offsets Scheme ecosystem credits that are reasonably equivalent by applying the Biodiversity Assessment Method as per equation 5 to the approved area of each vegetation zone or part vegetation zone.
Vegetation integrity gain is calculated based on the BBAM site value score, averted loss and security benefit scores. A percentage reduction for sites with an existing conservation obligation is based on the original BBAM percentage reduction.
Method to determine reasonable equivalence for flora species credits (assessed by area)
We will determine the number and type of Biodiversity Offsets Scheme flora species credits that are reasonably equivalent by applying the Biodiversity Assessment Method as per equation 5 to the approved area of each vegetation zone or part vegetation zone.
Vegetation integrity gain is calculated based on the BBAM site value score, averted loss and security benefit scores. A percentage reduction for sites with an existing conservation obligation is based on the original BBAM percentage reduction.
Method to determine reasonable equivalence for flora species credits assessed by count
We will determine the number and type of Biodiversity Offsets Scheme flora species credits that are reasonably equivalent by applying the Biodiversity Assessment Method as per equation 6 using the count derived from the BioBanking Assessment Report applied to the Biodiversity Assessment Method intrinsic rate of increase.
Method to determine reasonable equivalence for dual credit species
For some dual credit species, an important habitat area map is used to determine where species credits can be created. We will determine whether the species credit is maintained by making an assessment against an important habitat area map.
Dual species credits that are created from within the important habitat area map will be considered using the methods identified for species credits. Dual species credits created at BioBanking sites outside of the important habitat area map will now be considered in the ecosystem credits created at the site and will not generate reasonably equivalent species credits.
Other dual credit species that have been created at a BioBanking site for species that use habitat features such as tree hollows or caves for breeding will be considered as reasonably equivalent species credits.
Understanding equivalent classes on your statement of reasonable equivalence
Once you receive your equivalent Biodiversity Offsets Scheme (BOS) credit class you may notice that both the number and the attributes of the credits have changed. The assessment of equivalence is made on an ecological basis.
The Interim Biogeographic Regionalisation for Australia (IBRA) divides Australia into bioregions on the basis of their dominant landscape-scale attributes.
As an example your original BioBanking credit class may have had the following information:
Number of ecosystem credits | 10 |
Plant community type | Swamp mahogany swamp forest of the coastal lowlands of the North Coast (NR254) |
IBRA subregion | Murwillumbah (Qld – South East Hills and Ranges) and any IBRA subregion that adjoins the IBRA subregion in which the development occurs |
As an example the equivalent BOS credit class may look like the following:
Number of ecosystem credits | 10 |
Plant community type | Swamp Mahogany swamp forest on coastal lowlands of the NSW North Coast Bioregion and northern Sydney Basin Bioregion (PCT 1230/NR 254) |
Offset trading group | Swamp Sclerophyll forest on coastal floodplains – greater than or equal to 50% cleared and less than 70% cleared |
Hollow bearing trees | Vegetation containing hollow bearing trees |
Vegetation class | Coastal Swamp Forest |
Vegetation formation | Forested Wetlands |
IBRA subregion | Burringbar Conondale Ranges and any IBRA subregion that adjoins the IBRA subregion within which the development occurs and any such subregion that is within 100 kilometres of the outer edge of the impact site. |
Or there may be more than one equivalent BOS credit class, such as:
Number of ecosystem credits | 5 | Number of ecosystem credits | 5 |
Plant community type | Swamp Mahogany swamp forest on coastal lowlands of the NSW North Coast Bioregion and northern Sydney Basin Bioregion (PCT 1230/NR 254) | Plant community type | Swamp Mahogany swamp forest on coastal lowlands of the NSW North Coast Bioregion and northern Sydney Basin Bioregion (PCT 1230/NR 254) |
Offset trading group | Swamp Sclerophyll forest on coastal floodplains – greater than or equal to 90% cleared | Offset trading group | Swamp Sclerophyll forest on coastal floodplains – greater than or equal to 50% cleared and less than 70% cleared |
Hollow bearing trees | n/a | Hollow bearing trees | Vegetation containing hollow bearing trees |
Vegetation class | Coastal Swamp Forest | Vegetation class | Coastal Swamp Forest |
Vegetation subregion | Forested Wetlands | Vegetation formation | Forested Wetlands |
IBRA subregion | Burringbar Conondale Ranges and any IBRA subregion that adjoins the IBRA subregion within which the development occurs and any such subregion that is within 100 kilometres of the outer edge of the impact site. | IBRA subregion | Burringbar Conondale Ranges and any IBRA subregion that adjoins the IBRA subregion within which the development occurs and any such subregion that is within 100 kilometres of the outer edge of the impact site. |
Potential buyers of your BOS credits will need to see the information on the equivalent classes to understand whether your equivalent classes match their requirements.