Biodiversity Conservation Regulation 2017

A strategic offset delivery agreement (a SODA) with the Environment Agency Head may be entered into by the applicant or proponent of major project development after the development consent for, or approval of, the development is given.

A SODA must require the Environment Agency Head to carry out one or more of the following—

the retirement of like-for-like biodiversity credits,

the funding of a biodiversity conservation action that would benefit the relevant threatened species or ecological communities.

A SODA must—

specify the number and class of biodiversity credits that would, at the time of entering the SODA, otherwise have been required under the relevant planning approval for the major project development, including under an instrument or agreement required to be made or entered into under the consent or approval in relation to that requirement (the required number and class of biodiversity credits), and

require the Environment Agency Head to carry out the actions referred to in subclause (2)(a) and (b) in a way that is consistent with the conservation investment strategy (an action requirement).

The Environment Agency Head must comply with an action requirement.

A SODA may specify that the SODA only relates to a specified part of the required number and class of biodiversity credits (a specified part).

The Environment Agency Head must not enter a SODA unless the Environment Agency Head is satisfied that the benefit to biodiversity values of the actions required to be undertaken by the Environment Agency Head under the SODA referred to in subclause (2)(a) and (b) matches or exceeds the benefit to biodiversity values of the retirement of the whole, or a specified part, of the required number and class of biodiversity credits.

The Environment Agency Head must—

publish, on a government website maintained by the Environment Agency Head, notice of the Environment Agency Head’s intention to enter into a SODA at least 28 days before entering into the SODA, and

implement the actions that benefit biodiversity values under the SODA within 3 years of entering into the SODA, or a longer period approved by the Minister.

The Minister must not approve a longer period under subclause (7)(b) unless satisfied the Environment Agency Head has adequately specified how and when the Environment Agency Head will implement the actions under the SODA.

In this clause—

protecting and restoring biodiversity values,

improving habitat connectivity,

supporting resilience to climate change,

delivering in-perpetuity conservation outcomes,

benefiting landholders in the specified region.