Biodiversity offsets are measurable CONSERVATION OUTCOMES resulting from actions designed to compensate for significant residual adverse biodiversity impacts arising from project development6 after appropriate prevention and MITIGATION measures have been taken. The goal of biodiversity offsets is to achieve NO NET LOSS and preferably a NET GAIN of biodiversity on the ground with respect to species composition, HABITAT STRUCTURE, ECOSYSTEM FUNCTION and people’s use and CULTURAL VALUES associated with biodiversity. The Business and Biodiversity Offsets Programme (BBOP) is a partnership between companies, governments, conservation experts and financial institutions that aim to explore whether, in the right circumstances, biodiversity offsets can help achieve better and more cost effective conservation outcomes than normally occur in infrastructure development, while at the same time helping companies manage their risks, liabilities and costs. BBOP has been researching and developing best practice on biodiversity offsets and beginning to test it through a portfolio of pilot projects in a range of contexts and industry sectors, aiming to demonstrate improved and additional conservation and business outcomes. BBOP’s expectation is that biodiversity offsets will become a standard part of the development process when projects have a significant residual impact on biodiversity, resulting in long term and globally significant conservation outcomes. The Principles on Biodiversity Offsets and accompanying supporting materials such as this Cost-Benefit Handbook have been prepared by BBOP to help developers, conservation groups, communities, governments and financial institutions that wish to consider and develop best practice biodiversity offsets.
