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The State of Western Australia has a policy and guidance for environmental offsets: Guidance for the Assessment of Environmental Factor: Environmental Offsets – Biodiversity Guidance Statement No. 19 and Environmental Offsets Position Statement No. 9. A project proponent proposes a biodiversity offsets package during the Environmental Impact Assessment process when projects impact 'high' or 'critical' value biodiversity assets. Offsets can only be considered after following a mitigation hierarchy of avoidance, minimization, rectification, and reduction. The Environmental Protection Authority reviews the 'significance' of the impact, the extent and type of offset required on a case-by-case basis; there are no standard metrics for calculating impacts and determining offsets. Priority is given for offsets in the context of 'like-for-like' or 'like-for-better', but indirect ('contributing') offsets are allowed. The policy goal is a 'net environmental benefit.' The 2008 guidance document states that offsets must be publicly registered, but to date, a registry has not been implemented.
| Date Established: 2006 | Status: Active | Program Type: One-Off Offset |
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| Notes: State of Biodiversity Markets Report 2010; WA EPA 2008 Guidance for the Assessment of Environmental Factor: Environmental Offsets – Biodiversity, Guidance Statement No. 19, http://www.epa.wa.gov.au/docs/2783_GS19OffsetsBiodiv18808.pdf; WA EPA 2006 Environmental Offsets, Position Statement No. 9, http://www.epa.wa.gov.au/docs/1863_PS9.pdf | ||
| Bank regulator information: Western Australia Environmental Protection Agency (WA EPA) | Last Updated: December 1, 2009 | |