Information about offsets
What are offsets
Offsets are a regulatory tool that can be used to compensate or “offset” the residual impact of an action or set of actions on the environment.
The use of an offset is only ever considered when avoidance and mitigation measures have been exhausted and residual impacts remain. Offsets are used to compensate for these residual impacts and are intended to achieve long-term, secure and measurable environmental outcomes.
The most common types of offsets used in Australia and around the world are biodiversity offsets and greenhouse gas emissions offsets.
- Biodiversity offsets: are actions designed to compensate for impacts on the environment or biodiversity.
- Greenhouse gas emissions offsets (GHG): are actions designed to compensate for the production of GHG emissions.
What is the Territory-specific target-based offsets model?
The Northern Territory Offsets Framework adopts a Territory-specific target-based offsets model . Under this model Territory specific targets will be established reflecting Territory priorities for biodiversity and emissions abatement.
Offset policies and guidelines under the Offsets Framework will ensure offsets are used and designed to appropriately contribute to these targets.
This model will facilitate strategic and holistic offset programs that maximise the benefits to the Territory.
Read the Target-based outcomes offsets model factsheet for more information.
Last updated: 26 August 2021
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