IPART is monitoring the NSW Biodiversity Credit Market
Healthy biodiversity is important for the quality of life of current and future generations. The biodiversity credits market plays a key role within the NSW Biodiversity Offsets Scheme to ensure biodiversity losses due to development or land clearing are offset by equivalent biodiversity gains at a price that reflects the efficient cost of conserving biodiversity.
We have been asked to monitor the biodiversity credits market for 3 years from 2022-23 and make findings and recommendations with the aim of:
- maintaining and promoting competition
- addressing the interests of existing and potential biodiversity market participants, and supporting fair trading
- identifying opportunities to improve market efficiency and address market failure.
Thank you to all stakeholders who have participated in IPART’s monitoring review this year.
IPART has been granted a 3 month extension to the review, to July 2026. This extension has enabled us to undertake a further round of consultation with stakeholders before finalising this year’s Annual Report (the final under our Terms of Reference).
A Draft Annual Report for 2024-25 is now available. Stakeholders may also access responses to a fact check of the Draft Report undertaken by the Department of Climate Change Energy, the Environment and Water along with IPART’s response to the issues they raised.
Submissions will close on 5 June. We will consider the feedback we receive when preparing our Final Report, to be published in July 2026.