What’s it about in short: On 1 July 2014, the new environmental offsets framework was introduced in Queensland, Australia.
When was it released: April 16, 2015
By whom: Copper Grace Ward Lawyers
Environmental offsets are embedded in Commonwealth and State legislation and policy frameworks, and are designed to ‘counterbalance’ the environmental impacts of property and resources developments. The requirement to have an offset is included as a condition of an approval in an environmental authority or a development approval.
In recent years there has been a number of major policy and legislative changes, especially in Queensland, that impact on proponents and may provide an opportunity for an ongoing income stream for landholders.