Property Vegetation Plan Offsets (New South Wales)

While BioBanking applies to offsets for development, agricultural clearing is regulated under NSW's Native Vegetation Act of 2003, and includes an offset scheme through the Property Vegetation Plan (PVP) process. The PVP scheme was the fore-runner to BioBanking, but the schme applies mainly to agriculture and offsets are normally created on the landowner's land. Because offsets within this program are 'internal' trades, there are no purchase values available. NSW DECCW keeps a register of the area of land cleared and offset, amongst other information.

Program Statistics

Date Established: 2003 Status: Active Program Type: One-Off Offset
About the program:
Annual size of program (area): 7,341 (hectares) Year of Data: 2009
Cumulative size of program (area): 25,564 (hectares) Years of Data: -
Annual payments of program (US$): Year of Data:
Cumulative payments of program (US$): Years of Data: -
Notes on program size or payments:

Further information about the size of the program: From 2005 through the end of 2009, there have been 421 Property Vegetation Plans (PVPs) approved, with 8,865 hectares of cleared or thinned land and 25,564 hectares of offset (in 2009, there were 1,983 hectares of cleared or thinned land and 7,341 hectares of offset). A public register can be found at: http://www.environment.nsw.gov.au/vegetation/approvedclearing.htm

Species or habitat types (if applicable):
Notes: http://www.environment.nsw.gov.au/vegetation/pvp.htm
Bank regulator information: New South Wales Department of Environment, Climate Change and Water Last Updated: September 23, 2010