Third Party Supply of Offsets: Offset Market

1,880 views

Published on

Written by Michael Crowe, NatureTask, State of Victoria, Australia

Published in: Education
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
1,880
On SlideShare
0
From Embeds
0
Number of Embeds
1,595
Actions
Shares
0
Downloads
5
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Third Party Supply of Offsets: Offset Market

  1. 1. Third party supply of offsets – offset market Developers buyers Credit Register • Brokers • Banks • Over the counter sellers Conservation banks Create credits • landowner agreements • land surrender • upgrade protected areas Landowners
  2. 2. Like-for-like and offset supply Risk to supplier increases Different credit types Demand high and certain Aggregated offsets & banks Demand low and uncertain Bespoke trades thru’ brokers Like-for-like rules (including trading up) determine market segmentation: • Low segmentation → banks and landscape solutions • High segmentation → bespoke and individual site solutions
  3. 3. Market facilitation – Over The Counter Over The Counter - • a bank of credits available at price pre-set by the landowner • based on ‘trading up’ to higher biodiversity importance • offset specified in the permit condition • offset plan provided at time of purchase • walk in and buy - feels like ‘in lieu payment’
  4. 4. Endangered grasslands • Plains Grassland - Victorian Volcanic Plain
  5. 5. Offset bank & protected area • A 15,000 ha reserve through the purchase and surrender of freehold land • Will provide offsets for 15 years of urban development in Melbourne’s west • Designed via a Strategic Assessment Report of future impacts and offsets • Land designated under an acquisition overlay • Financed through a revolving fund, primed with government funding

×