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Biodiversity offsetting has been formally implemented into the planning process in England through the introduction of Biodiversity Net Gain (BNG) on February 12, 2024 under the Environment Act 2021 through modification to the Town and Country Planning Act. BNG is England’s domestic ecological compensation policy, designed to compensate for ...
"No net loss" is defined by the International Finance Corporation as "the point at which the project-related impacts on biodiversity are balanced by measures taken to avoid and minimize the project's impacts, to understand on site restoration and finally to offset significant residual impacts, if any, on an appropriate geographic scale (e.g local, landscape-level, national, regional)."
Biodiversity banks and the credits that are generated from them rely on regulations and legal frameworks. When establishing a biodiversity bank, a legal arrangement, such as a conservation easement (also known as a conservation covenant) might be required to set aside the land for conservation and prevent the use of the land for development, either in perpetuity or for a specified time period ...
For example, England's Biodiversity Net Gain policy requires that developers purchase biodiversity credits from the government if they are unable to achieve a 10% gain in biodiversity by creating or enhancing habitat on their development site. [44] Some entities might also purchase credits form these systems voluntarily. [45]
GAP is now known as the Gap Analysis Project. [7] The Gap Analysis Project mission is to provide state, regional, and national biodiversity assessments of the conservation status of native vertebrate species, aquatic species, and natural land cover types and to facilitate the application of this information to land management activities.
Nature-positive is a concept and goal to halt and reverse nature loss by 2030, and to achieve full nature recovery by 2050. [1] According to the World Wide Fund for Nature, the aim is to achieve this through "measurable gains in the health, abundance, diversity, and resilience of species, ecosystems, and natural processes."
A Biodiversity Impact Credit (BIC) is a transferable biodiversity credit designed to reduce global species extinction risk. The underlying BIC metric, developed by academics working at Queen Mary University of London and Bar-Ilan University, is given by a simple formula that quantifies the positive and negative effects that interventions in nature have on the mean long-term survival ...
PD's 'hierarchy of eco-innovation' analysis instead prioritizes positive system-wide outcomes and net public benefits. [50] Being non-numerical, it allows self-assessment during design when scientific data is unavailable, time and ego has vested or irreversible decisions are made.