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We are currently facing significant challenges in environmental management that must be addressed to maintain the health of our planet and our population. While carbon offsetting in its various forms is widespread globally, few countries have fully legislated and put into operation other offset policies. This edited collection aims to fill the gap of knowledge on environmental offsets, from theory to practice. Environmental Offsets addresses four major forms of environmental offsets – biodiversity offsets, carbon offsets, offsetting the depletion of non-renewable resources and offsetting the destruction of built heritage. The authors discuss their research and provide case studies from around Australia and across the developing world. Using examples such as the Sydney Olympics, the Bakossi Forest Reserve in Cameroon and green roof gardens, this book highlights the strengths and weaknesses of environmental offsetting and illustrates how jobs can be created in the offsetting process. Environmental Offsets is both a historical source in our understanding of environmental offsetting and a guide to the way forward. It illustrates what works, what does not and what can be improved for the future.
The Queensland Government is reforming environmental offsetting arrangements by creating a new Environmental Offsets Act 2014 which if created, will significantly streamline and simplify the delivery of environmental offsets and improve environmental outcomes. The discussion paper details key improvements to the existing legislative environment and references sections in both the draft Regulation and the Bill, and the Financial Settlement Offset Calculation, Methodology specifies the calculation methodology that calculates the financial settlement for an environmental offset.