McCullough Robertson prepares Queensland's first biodiversity offset broker agreement

McCullough Robertson prepares Queensland's first biodiversity offset broker agreement

McCullough Robertson has prepared the first offset broker agreement under the Queensland Government’s Biodiversity Offsets Policy.  The policy allows project proponents in Queensland to engage environmental brokers to provide their required biodiversity offsets within certain timeframes, which allow projects to move forward in the approval process without the need to legally secure an offset before an approval can be given.

McCullough Robertson was engaged by Earthtrade, an environmental broker that provides clients with biodiversity offsets required by Government as part of the development approvals process.  As the broker, Earthtrade sources the required offset through its extensive network of landholders and acts as the intermediary between the developer and the landholder to manage the process of legally securing the offset.

Earthtrade’s leading offsets brokerage service also delivers clients with vegetation, koala and fisheries offset solutions to meet offset obligations under the relevant legislation.  By establishing a pool of landholders ready to consider covenants on their land, Earthtrade has the potential to secure offsets in a timely manner and avoid project delays.

The offset broker agreement was the first of its kind to be used under the Queensland Government’s Biodiversity Offsets Policy and has now been utilised by a number of Earthtrade’s resources clients.  The work involved the firm’s expertise across the resource and environment sectors in understanding the commercial requirements within the framework of the Queensland Government’s policy.

For further information about Earthtrade, visit http://earthtrade.com.au.

For advice on environmental regulations, contact Partners Tim Hanmore and Isaac West.

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