Purchasing and retiring biodiversity credits can offset a biodiversity obligation that applies to a development or vegetation clearing. Selling credits is a transfer of ownership and must be completed using the approved forms.
Credit transfer and retirement forms
To transfer or retire Biodiversity Offset Scheme (BOS) credits an application form must be completed and submitted by the current owners and buyers of the credits, along with the appropriate fee.
Carefully read the details on the form and note the list of required documentation, such as verification of identity for signatories, company extracts and power of attorney or authority to act as needed.
- Application to transfer biodiversity credits (DOC 161KB)
- Application to retire biodiversity credits (DOC 134KB)
Authority to sign and proof of identity
The Authority to sign and proof of identity practice guideline (PDF 144KB) outlines the legal authority required by a person to execute an application to transfer or retire BOS credits and the documentation required to prove the identity of those persons.
Buying and selling – the transfer of Biodiversity Offset Scheme credits
The market determines the amount paid for each credit. The landowner and credit purchaser are free to negotiate any price provided the total fund deposit requirements are met. Total fund deposits allow for long-term management of biodiversity stewardship sites.
Accurate submission and processing of the application to transfer BOS credits results in a legally binding transaction of credit ownership from seller to buyer.
Retirement of Biodiversity Offset Scheme biodiversity credits
Before development works start BOS credits must be retired to offset the impact on biodiversity values.
Credits may also be voluntarily retired to improve environmental outcomes.
Retired credits are removed from the market and may no longer be traded.
Biodiversity credits and the public register
The Biodiversity Offsets Scheme public registers support the operation of the BOS credit market by helping to connect credit buyers and sellers while increasing market transparency.
The public registers provide information on BOS credits, obligations and transactions created under the provisions of the Biodiversity Conservation Act 2016 and the Biodiversity Conservation Regulation 2017.