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Transport for NSW's referral of biodiversity offsets trades to ICAC is welcome

“We welcome news that Transport for NSW has referred to ICAC the sale of biodiversity offset credits in relation to major public works in Western Sydney,” Nature Conservation Council Chief Executive Chris Gambian said.

“Reports in the Guardian Australia that some well-placed individuals have made super-profits from the sale of biodiversity credits are deeply concerning and undermine public confidence in the whole offsetting system. [1]

“They also raise many unanswered questions about how this scheme is being administered.

“In addition to any ICAC investigation, there must be a review of the whole offsetting scheme to ensure our natural assets are being protected and not merely traded as commodities to maximise private profit.”

[1] NSW transport department refers its own western Sydney environmental offset purchases to Icac, 7-5-21, The Guardian

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