Developers can now buy biodiversity credits from farmers and landowners to offset the damage to wildlife from new building projects.
Under Boris Johnson’s flagship Environment Bill, which sets out how the UK will manage the environment post-Brexit, developments in England are required to deliver net improvements to biodiversity.
Farmers and landowners believe these are an excellent way to bring investment as they can see opportunities in the growing market for biodiversity units and credits.
Builders will need to deliver biodiversity improvements onsite or by investing in projects offsite such as the Alscot Estate in Warwickshire.
Warwickshire County Council has approved the selling of biodiversity “units” to developers looking to make up for the loss of wildlife at nearby projects.
Developers will be able to buy biodiversity credits from the Government which will invest the funds in habitat projects.
Under the Bill, developers will have to measure how many units of biodiversity there are at a site. They then need to keep or replace as many units plus 10 per cent for at least 30 years after the development, known as biodiversity net gain.
However, Friends of the Earth has warned the rules risk justifying “destructive housing sprawl” and “gives the impression that nature can be in constant flux and can be dug and moved at the whim of developers.”
LSL News.