What is a Credit Demand Expression of Interest?
Private and public proponents can submit a Credit Demand Expression of Interest to seek support in sourcing biodiversity credits. Proponents can submit the Credit Demand Expression of Interest before credit obligations are set through a development consent.
A Credit Demand Expression of Interest informs how we prioritise Stewardship Support Program applications from landholders. We work proactively with landholders to create new in-demand credits through biodiversity stewardship agreements. Landholders can sell these credits via reverse auctions through the Credits Supply Fund or to other buyers.
Proponents who have made an expression of interest will be asked if they want their credit requirements included on the target list for each reverse auction. This enables proponents to purchase credits through the Credits Supply Fund at purchase price plus cost recovery.
The information you provide in this form will only be used for the purpose for which it was collected. By submitting, you consent to storage, use, and disclosure of your personal information in accordance with our privacy policy. You can request access and amendment of your personal information.
The information provided through Credit Demand Expression of Interest submissions will inform our Current biodiversity credit demand.
The Department of Climate Change, Energy, the Environment and Water (the department) is collecting your personal information (your information) through this form.
Why are we collecting your information?
We are collecting your information to support you in sourcing biodiversity credits.
How will we share your information?
We will not share your information with anyone else unless you give your consent, or the law requires or allows us to do so.
Are you required by law to give us your information?
You are not required by law to give us your information, but if you choose not to, we may not be able to support you in sourcing biodiversity credits.
Your right to access and correct your information
To access or correct your information, please contact [email protected]
Further information
For more details on how your information is handled, please refer to Privacy and security.
How does an Expression of Interest differ from using the Demand Register?
With Credit Demand Expression of Interests, the department can take a more proactive approach to engaging landholders to generate those credits that are in demand. Proponents can still use the public Demand Register to advise the market directly of their interest in buying credits.
How will information provided in a Credit Demand Expression of Interest be used?
We use Credit Demand Expression of Interest and other biodiversity credit demand information to support efforts to meet the demand for biodiversity credits – for example, by working with landholders in specific regions to increase supply. Project-specific information will not be provided outside of the department. Only general information about the demand for biodiversity credits will be released publicly and to landholders so that the market and potential participants better understand opportunities to generate credits.
If I submit a Credit Demand Expression of Interest, do I have to buy the credits?
There is no obligation to buy credits indicated in a Credit Demand Expression of Interest. The expression of interest can be made before offset requirements are finalised in a development consent. Credit Demand Expressions of Interest assist us in supporting the creation of credits that may be needed. Through the Credits Supply Fund, the department may also purchase these types of credits for resale.
Is buying credits from through the Credits Supply Fund different from the Biodiversity Conservation Fund?
Yes, biodiversity credits available from through the Biodiversity Credits Supply Fund will be cheaper than paying into the Biodiversity Conservation Fund because we purchase credits in advance (reducing the risk that credits cannot be found) and work with a wide range of potential suppliers to source credits. Proponents buying credits through the Supply Fund will need to retire credits to meet a credit obligation (similar to purchasing credits from the market). Another benefit of the Supply Fund is that the activities to increase biodiversity value will start earlier.
How can I get priority to buy credits available through the Supply Fund?
Proponents who sign a credit sale agreement early get priority access to credits, otherwise they are allocated on a first-in basis. If there are multiple proponents interested in the same credits, and we don't have enough well-priced credits to meet the demand, access to the credits is decided by lottery.
How much will credits cost if I purchase them through the Supply Fund?
Credits will be sold at purchase price plus cost recovery. Purchase price will include value for money and market considerations. More information will be published in a pricing strategy being developed.
How long will it take to find credits that I need using the Supply Fund?
Preferred timeframes for purchasing credits can be specified in the Demand Expression of Interest; however, this is not guaranteed.
What if the department can't find the credits I need?
If the credits are not available through the Supply Fund, proponents can use other existing options for offsetting, including buying from the open market, establishing a new biodiversity stewardship agreement or paying into the Biodiversity Conservation Fund.
Can I specify the location from which credits are from?
We will consider factors such as demand, cost and fit with strategic conservation outcomes when sourcing credits and will look for opportunities to meet specific requests where it is practical to do so.
Will the credits be on a like-for-like basis, or will variation rules be used?
We will use the like-for-like rules in sourcing credits unless proponents identify that the variation rules are available for a project (as set out in conditions of development consent).