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The Bio-diversity Net Gain (BNG) requirement means that any habitat lost by a development must be replaced with enhanced habitat elsewhere such that the improvement in habitat scores at least 110% of the value of the habitat that is being lost.<\/p>\n
However, in situations where there is no suitable land at the proposed site, the developers will be able to access a register of land that can be quite remote from the site.<\/p>\n
This obviously opens up possibilities for land-owning individuals and organisations to list land as available and enter into conservation covenants to fulfil the BNG obligations of the developers.<\/p>\n
The prices currently mooted could represent an attractive option for many landowners but it will be important to evaluate the proposition fully.<\/p>\n
At the moment covenants look to have a minimum lifespan of 30 years though this could be more depending on the nature of the development.<\/p>\n
Landowners will need the expertise to ensure that they are positively enhancing the habitat as required. That is likely to require new skills.<\/p>\n
Depending on the existing use of the land, there may be unintended tax consequences such as IHT so its important to take advice.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Bio-diversity Net Gain (BNG) requirement means that any habitat lost by a development must be replaced with enhanced habitat elsewhere such that the improvement in habitat scores at least 110% of the value of the habitat that is being lost. However, in situations where there is no suitable land at the proposed site,[…] <\/p>\n