NSW pricing watchdog recommends overhaul of biodiversity offsets scheme
by Lisa Cox from Environment | The Guardian on (#6H89H)
Tribunal found developers were paying into fund five times faster than the Biodiversity Conservation Trust was able to find required offsets
The New South Wales pricing watchdog has recommended an overhaul of the state's biodiversity offsets scheme including phasing out a policy that allows developers to pay into a fund in order to meet their offset obligations.
The Independent Pricing and Regulatory Tribunal (IPART) conducts annual monitoring of the scheme, which allows developers to buy credits to compensate for habitat destruction caused by their projects.
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