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The Australia Federal government under the Environmental Protection and Biodiversity Conservation Act (EPBC) of 1999 released a draft policy statement and a discussion paper for the use of environmental offsets in November 2007. Offsets can be used to meet the ‘maintain or enhance’ requirement under the EPBC, and it is proposed that they will be considered on a case-by-case basis, taking into consideration the scale and intensity of the impact. The offsets should be ‘like-for-like’ and be in the general vicinity of the development site. To date there has been no further public progress of this policy.
| Date Established: 2007 | Status: In-Progress | Program Type: One-Off Offset |
| About the program: | ||
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| Notes: AG DEWHA (Australian Government Department of the Environment, Water, Heritage and the Arts), Use of environmental offsets under the Environmental Protection and Biodiversity Conservation Act 1999, August, 2007, available at http://www.environment.gov.au/epbc/publications/draftenvironmental-offsets.html | ||
| Bank regulator information: AG DEWHA (Australian Government Department of the Environment, Water, Heritage and the Arts); AG DEWR (Australian Government Department of Environment and Water Resources) | Last Updated: October 4, 2010 | |