Third party offset site owners can then:
- sell native vegetation credits to people with approval to remove native vegetation, or
- use them to meet their own offset requirement due to an approval to remove native vegetation.
To manage and protect native vegetation on your own land to meet your own offset requirements, go to Securing an offset
There are costs associated with establishing third party offset sites. A summary about how to establish a third party offset site is available here:
Before you start, talk with one or more accredited site assessors to help you understand:
- if your proposed offset site meets all eligibility requirements
- what your land management and reporting obligations will be into the future
- the estimated native vegetation credits available at your site, and
- the likely costs of ongoing offset management
Also talk with one or more accredited brokers to help you understand:
- native vegetation credit trading
- how the market operates, and
- the potential for trading native vegetation credits.
A list of Native Vegetation Credit Register accredited brokers and site assessors is available here:
To establish a third party offset site you will need to contact a Native Vegetation Credit Register accredited site assessor. The assessor will conduct a site assessment and take you through the process to establish the site.
Once the site is established and you have native vegetation credits, contact one or more accredited brokers to list the credits. The brokers assist to match your credits with potential buyers.
Registered on-title security agreements for third party offset sites are either:
- a Trust for Nature offset covenant under the Conservation Trust Act 1972, or
- a section 69 agreement under the Conservation, Forests and Lands Act 1970 (DELWP).
Both types of security agreement must meet DELWP offset site standards. Offset sites under Trust for Nature offset covenants have some different requirements and fees. Contact Trust for Nature for more information.
IMPORTANT! The management obligations and commitments start as soon as all parties have signed the security agreement. This is regardless of whether any trades have occurred.
There is an option for landowners to complete the site assessment first. This will identify the potential credits available on the offset site. Accredited brokers can then list the potential credits available. When a broker identifies a prospective buyer, the landowner can then complete the offset process and start trading.
How to price native vegetation credits
The following information sheet will help landowners work out how to set a unit price:
Landowners can also look at the details of previous trades: