Disparity in biodiversity offset regulation across Australia may reduce effectiveness

ABSTRACT Biodiversity offsets are a mechanism for allowing economic development to proceed while ensuring that this is not to the detriment of environmental and social values. In order to achieve this, biodiversity offsets need to include environmental, social and economic aspects in an equitable and effective way. Australian legislation and policy relating to biodiversity offsets was reviewed and rated according to the level of equity and effectiveness, in terms of transparency, measurability and enforceability, to achieve outcomes. In all jurisdictions, gaps were found in the transparency, measurability and enforceability of offset regulations. In particular, the Commonwealth, having the overarching responsibility for the protection of biodiversity, was found to be lacking in the ability to fill these gaps. These gaps could result in a loss of biodiversity and ecosystem function and services, as well as having economic repercussions for communities and developers. It also raises questions as to whether Australia is meeting its obligation as a signatory to the Convention on Biological Diversity and its ability to meet the corresponding Aichi Targets (and the subsequent Global Biodiversity Framework).