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BIODIVERSITY NET GAIN

Environment Bank has secured eight conservation covenants for BNG sites

 

We’re thrilled to announce that Environment Bank has just secured conservation covenants for eight of our BNG sites. With these legal agreements now in place, the sites will be formally added to the national BNG sites register in due course.

Once registered, these additions will boost the gains sites register by 80% – nearly doubling the number of sites available – marking a substantial leap forward for the off-site Biodiversity Unit market.

These eight sites, created in partnership with local farmers and landowners, cover almost 500 acres (200 hectares) of land which is dedicated to high quality habitat creation and enhancement. That’s around the same area as 250 football pitches, or the entire Olympic Park in London.

At these sites alone, we have generated almost 1,200 off-site Biodiversity Units which are available for developers to reserve and purchase.

Conservation covenants have now been secured for the following: 

To secure these conservation covenants, we worked with the incredible team at RSK Wilding, a BNG specialist branch of the ecological consultancy RSK Biocensus – one of the first organisations to be appointed by Defra as a Responsible Body with the authority to grant conservation covenants to BNG providers. These sites are also the first sites that RSK Biocensus has successfully completed such legal agreements.

We took on the role of Responsible Body because we are keen to make sure that BNG delivers the ecological and environmental benefits that we all want it to, whilst at the same time facilitating sustainable development.

It is wonderful to be able to work with Environment Bank to help them get their schemes approved and over the line, thus helping to unlock the supply of Biodiversity Units for developers.

Jon Davies, Director, RSK Wilding

To formally add BNG sites with Units for sale onto the gains sites register, they must be legally secured through either a conservation covenant with a Responsible Body or a section 106 agreement (S106) with the local planning authority (LPA). 

The demand for off-site Biodiversity Units is high. We’ve already received more than £160m worth of enquiries from developers looking to comply with their BNG obligations and we have a national network of 25 Habitat Banks already generating thousands of Biodiversity Units to sell across the country.  

Our first course of action in legally securing our Habitat Banks will always be to pursue a S106 agreement with the LPA to engage as much as possible with local stakeholders. But as BNG is still a new policy and LPAs are awaiting additional resourcing and guidance, we may need to secure conservation covenants in some cases to meet the urgent needs of developers. 

We’re continuing to work closely with LPAs across England, building valuable partnerships and supporting them with BNG and S106 agreements. We also intend to provide ongoing monitoring reports to the local authority for any sites in their area secured under conservation covenants, keeping them in the loop as the Habitat Bank progresses.

This is an exciting step in the development of the BNG market. Conservation covenants are crucial to boosting the supply of Biodiversity Units alongside LPA-led section 106 agreements.

We have worked closely with Environment Bank in the process of approving their Habitat Banks and were impressed with their professionalism, collaborative spirit, and ecological integrity, as well as with the long-term financial bond to secure ongoing management of the land.

Jon Davies, Director, RSK Wilding

Legal agreements coming forward at a timely pace are essential for BNG policy to thrive as intended. Developers are already finding that off-site BNG solutions, like those offered by Environment Bank, are enabling vital development projects to go ahead. 

Biodiversity Units from the Emberton Habitat Bank, now secured under a conservation covenant with RSK Wilding, have been purchased to enable a retirement village development project to progress in Oxfordshire. 

We also recently provided Units from both our Heacham and Emberton Habitat Banks (both now secured through RSK Wilding conservation covenants) to cater for a substantial infrastructure project carried out by National Grid in East Anglia. 

Similarly, Biodiversity Units from our Bolsterstone Habitat Bank, now also secured through this agreement, were recently sold to unlock a social housing development near Sheffield. With social housing in high demand, unlocking BNG solutions with legal agreements is critical in avoiding development delays.

Environment Bank has 25 Habitat Banks already live, generating over 4000 Biodiversity Units. Securing legal agreements for these sites is the final step in unlocking the supply of Biodiversity Units. With developers required to ensure their projects benefit nature overall, this marks a significant milestone in the implementation phase.

We have already sold Units to over 50 customers and received over £160m worth of enquiries. Now with supply unlocked, we can meet growing demand. This is a really positive step in helping this fledgling market thrive.

Catherine Spitzer, CEO, Environment Bank

Find out the cost and availability of Biodiversity Units for your development