BioBanking Trust Fund
BioBanking program overview
The Biodiversity Banking and Offsets Scheme (BioBanking) developed by the NSW Office of Environment and Heritage (OEH) is a market based initiative of the NSW Government that will provide a robust framework for private land conservation and offsetting, providing long term arrangements for biodiversity conservation on private land and a consistent and transparent mechanism for the use of biodiversity offsets.
BioBanking commenced in July 2008. The Scheme's framework is provided under:
Part 7A of the Threatened Species Conservation Act 1995 (TSC Act) as inserted by the Threatened Species Conservation Amendment (Biodiversity Banking) Act 2006, which commenced on 4 December 2006
the Threatened Species Conservation (Biodiversity Banking) Regulation 2008 (BioBanking Regulation) which commenced on 11 July 2008
the Threatened Species Conservation (BioBanking Assessment Methodology) Order 2014 which was gazetted on 1 October 2014.
BioBanking Trust Fund Manager
The Minister for Climate Change and the Environment appointed the NSW Environmental Trust (the Trust) as the Fund Manager for the BioBanking Trust Fund on 30 July 2008.
The Fund Manager's role is to act as a trustee of money vested in the BioBanking Trust Fund, invest funds held in the Fund and administer the accounts and make payments from the Fund as the Minister directs.
Funds are invested through TCorp, the central financing authority for the NSW public sector.
The Environmental Trust has been appointed as the fund manager for the Biobanking Trust Fund until 11 July 2017.
For quarterly report detail, please see the Biobanking Reports webpage.
Details for the BioBanking Trust Fund for the year ended 30 June 2014 are contained within the Environmental Trust's Annual Report. The Annual Report is available on the Trust's website.
For specific enquiries relating to the BioBanking Trust Fund please contact the Environmental Trust.
Level 6, 10 Valentine Avenue
PO Box 644, PARRAMATTA NSW 2124
Phone: (02) 8837 6093
For all other BioBanking enquiries please contact:
Office of Environment and Heritage
PO Box A290
Sydney South NSW 1232
Phone: 13 15 15
Page last updated: 30 July 2015