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

More info: http://www.cgw.com.au/publication/new-environmental-offsets-framework-in-queensland/?utm_source=Mondaq&utm_medium=syndication&utm_campaign=View-Original

Short extract:

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.