What are the costs and benefits of biodiversity offsetting, from the point of view of housing, industrial, infrastructure and other developers? Do biodiversity offsets imply added costs for developers, or is it possible that benefits outweigh costs? How are offset prices affected by market design? And what are the broader economic benefits that may arise from offsetting? These are questions that Defra (Department for Environment Food & Rural Affairs – UK) wanted to examine more closely as it considered options for delivering offsets in England. A study (Duke and ten Kate 2014) was conducted to gather evidence to help answer these questions, based on experience from established offsetting markets in the US and Australia.
In this webinar the study authors present the report, recently published by Defra, and discuss costs and benefits to developers, the impact of market design on offset prices, and broader economic benefits of offset markets. Kerry ten Kate, Director of Forest Trends Biodiversity Initiative (and BBOP) presents the context for the study including the background of biodiversity offsets in the UK and the objectives of the study. Guy Duke (Independent consultant) presents the methodology, results and conclusions of the study.