A Biodiversity Stewardship Agreement is a legal agreement between the owner of the land and the Minister responsible for the Biodiversity Conservation Act 2016 (NSW). The agreement establishes the biodiversity stewardship site and creates biodiversity credits.
A Biodiversity Stewardship Agreement specifies the area (or areas) of land to which the agreement applies and is registered on the title of the land. The landholder chooses the area (or areas) of land to be placed under agreement when applying for a Biodiversity Stewardship Agreement.
A Biodiversity Stewardship Agreement includes:
- the number and type (or types) of biodiversity credits created
- the payment schedule from the Biodiversity Stewardship Payments Fund and Total Fund Deposit established through the sale of credits
- a management plan for the site that covers plant communities, threatened species, weeds, pests, grazing, fire and disturbance as well as monitoring legal terms and conditions and reporting requirements.
Under the Biodiversity Offsets Scheme, a Biodiversity Stewardship Agreement creates biodiversity credits that can be sold or used to offset the loss of biodiversity values resulting from development. Credits can also be purchased to invest in conservation outcomes for philanthropy, corporate social responsibility or as part of a government program.
Stewardship Support Program is now open until 1 May 2024
The Stewardship Support Program helps eligible landholders to create biodiversity credits by supporting them to enter into biodiversity stewardship agreements. If you are eligible and able to create in-demand biodiversity credits, you may receive biodiversity assessments and other support at no cost.
The focus of this round is for in-demand species credits. Applications will be accepted until 5:00 pm Wednesday 1 May 2024. Please check the eligibility criteria and submit an application form by this date.
Sites will be assessed for eligibility and feasibility. This is based on the site's area and potential to create in-demand credits. Landholders who have submitted applications through the program will be notified of the outcomes and next steps by 1 August 2024.