NSW Biodiversity Banking Scheme (Australia)

The purpose of this paper is to examine whether the NSW (Australian) Biobanking scheme holds up to its aim in
maintaining or improving biodiversity, its credibility as a market based scheme, and its long-term viability
within the NSW planning system and development assessment process. The requested paper is a section to the entire
paper so no introduction is necessary.
The content will define biodiversity and review the Biobanking Scheme; analyse the Scheme?s strengths,
weaknesses, opportunities, and threats is a small table; and explore the risks involved and its likelihood of
long-term success as a market tool for its various stakeholders, predominantly landholders, investors and
developers.
It is important to briefly define biodiversity and outline it?s importance in order to give the reader a
foundation to work from. This will be followed by the threats to biodiversity and the economic impacts to move
the reader into an economic sphere of Biobanking.
Once the reader has a foundation to work from, the paper should outline the Biobanking Scheme legislation and the
use of offsets in the Environmental Planning and Assessment Act, 1979 (EP&A, 1979), in a logical and coherent
manner in order for the reader to have an understanding of how it works and the issues facing the scheme. Since
the NSW Biobanking Scheme is a new concept to many, existing landmarks such as the Mitigation Scheme and the
Conservation Scheme among others can be used to help paint a clear mental map for the reader, or any other land
marks to create that clear mental map for the reader.
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