The net gain from biodiversity could present exciting opportunities for farmers and landowners looking to turn idle land into profit. Thanks to the government’s new flagship environmental law, introduced in 2021, developers must now ensure their projects increase the overall biodiversity value of their site by 10%. Not only does this have a significant positive impact on the environment, but it can also provide several benefits for those who wish to be part of the program.
A 10% increase in local biodiversity is a goal that is not always achievable. Developers must determine how much biodiversity is lost on each project and demonstrate how they will replace it, including an additional 10%.
You have the choice to increase biodiversity on-site or off-site, with the developers opting for off-site as a more efficient solution. Developers can choose to partner with a local landowner to increase biodiversity on their land and achieve the 10% target on their behalf. Both property developers and property owners benefit from this. The developer achieves the required uplift for their project and the farmer receives a substantial sum in compensation.
What options are there for biodiversity?
There are a number of net profit opportunities for landowners. The value depends on the pre-development statistics of the country. For example, a small patch of bare farmland will yield fewer credits than a patch of unimproved grass. An area suitable for the introduction of wildflowers, wetlands, rewilding and forests would be considered very attractive to government and developers.
An area that will be considered a very attractive wannabe lowland. This is mainly because lowland grasslands have suffered a sharp decline of about 97% in the 20th century due to farming practices. Therefore, the lowlands offer a fantastic opportunity for increasing biodiversity. As a landowner, it’s important to consider any opportunities that your natural capital might offer.
You should also consider the implications and effects of the system. It is possible that your land will be taken out of production for thirty years, leaving very little opportunity for alternative use. You should also consider whether it would be more cost-effective for you to consider another financial option for the land, as you may have additional administrative obligations or ongoing costs.
How much can I earn with the net gain in biodiversity?
Unfortunately, it’s hard to say how much you could earn by using your land for net biodiversity gain. There are no real guidelines and payment is usually determined in negotiations between the property owner and the developer. However, it is well known that landowners see more financial value in using their land for net biodiversity gain than any other agricultural practice.
What are the Biodiversity Net Benefits?
There are many financial benefits to using your land for net biodiversity gain, but there are other benefits as well. If you’re a farmer, using an area of land to increase biodiversity could result in improved soil health, pest control, nutrient cycles, and even preventing runoff into waterways.
The net gain from biodiversity could have significant benefits for farmers without reducing your land’s overall potential for agricultural yield. Agriculture is one of the few industries that both contributes to and is affected by environmental insecurity. Therefore, increasing environmental stability could help secure the future of agribusiness.
It goes without saying that biodiversity is incredibly important to the future health of our environment, which is why the biodiversity net gain was introduced in the first place. It is essential for food production, healthy ecosystems, pollination of plants, pest and disease control, and supporting all life on earth.
What Are the Disadvantages of Biodiversity Net Gain?
Despite the many benefits that landowners can expect from a net gain in biodiversity, there are also some potential downsides that you need to weigh. The usual 30-year contract term can be a sticking point for some. Three decades is a long time to lose a piece of land, especially when you haven’t thought about other uses or opportunities that might arise in that time.
If you decide that the 30-year contract term is worth it, you also need to consider the country’s profitability after the 30-year agreement expires. Promoting biodiversity may render the land unusable for other purposes after the agreement expires.
Some landowners also fail to consider the tax implications of offering land for net biodiversity gain, as it could result in the loss of inheritance tax relief. Nor must they consider that the official register of net profits currently under construction could result in their information being made available to the public.
Property owners must consider all available information before entering into an agreement with developers, which is why most people choose to seek advice from an environmental consultant. An experienced advisor will help you consider all the results so you can make the best possible choice for your natural assets.
Strategies to improve biodiversity
Increasing biodiversity may be easier than you think. You could choose to create more hospitable areas for wildlife by planting trees and flowers strategically on your land, or you could dig holes for ponds that would provide a place for wildlife to drink. A simple solution could be to let grass areas grow naturally and encourage the resurgence of shrubs such as nettles or flowering plants.
Why you should consider an environmental consultant
Despite its popularity, entering into a net biodiversity gain agreement is a serious consideration that can impact your country’s future. A professional environmental consultant will help you understand all the implications and considerations so you can make the most beneficial choice.
A licensed Biodiversity Ecological Consultant will assist you throughout the process, following guidelines from professional bodies such as Defra. They will help you assess the value of your property and clearly demonstrate to potential developers what would result in the best possible outcome for your future. For more information and a free initial consultation, contact us on 01225 459564 or email [email protected]
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