Biodiversity offsets are conservation actions intended to compensate for the residual, unavoidable harm to biodiversity caused by development projects. The use of biodiversity offsets in the context of mining has significant potential for enabling mining to take place in areas with biodiversity values, where it would not otherwise be possible to meet the relevant legal tests under the Resource Management Act 1991, and potentially the Conservation Act 1987. This paper looks at the concept of biodiversity offsets (and environmental compensation generally) both in New Zealand and internationally and considers how lessons learned overseas may be adapted for this country.
In New Zealand the practice of biodiversity offsets and environmental compensation is ad hoc and variable. The challenge with biodiversity offsets is to establish a transparent and coherent means of identifying the overall priorities and objectives of adopting such an approach, as well as how the relevant values are measured and protected. Establishing a methodology for quantifying biodiversity value, and the need for clear policy guidelines on biodiversity offsets are identified as key areas in need of wider discussion.