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Australia has launched an initiative whereby a developer may build on environmentally-sensitive land if they agree to pay to protect another equivalent area of land.
The first agreement will see 80 hectares of rural land near Camden protected as a conservation reserve by developers who want to build 180,000 houses on protected land in Sydney's western suburbs (BusinessGreen, 2010) and there are plans for 35 similar agreements.
The government said the scheme provides an alternative source of income for rural landowners who may otherwise be considering subdividing their land for developers, as they can now be paid not to clear the land, maintaining large areas of bushland that will be preserved as a whole. Critics dismiss the scheme as resulting in the destruction of the environmentally sensitive areas in the first place.
References
BusinessGreen, 2010.
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Australia has launched an initiative whereby a developer may build on environmentally-sensitive land if they agree to pay to protect another equivalent area of land.
The first agreement will see 80 hectares of rural land near Camden protected as a conservation reserve by developers who want to build 180,000 houses on protected land in Sydney's western suburbs (BusinessGreen, 2010) and there are plans for 35 similar agreements.
The government said the scheme provides an alternative source of income for rural landowners who may otherwise be considering subdividing their land for developers, as they can now be paid not to clear the land, maintaining large areas of bushland that will be preserved as a whole. Critics dismiss the scheme as resulting in the destruction of the environmentally sensitive areas in the first place.
References
BusinessGreen, 2010.
