EXTRA funds to contribute towards nature and green space across Bournemouth, Christchurch and Poole may be provided by developers.
BCP Council is set to be one of the first local authorities in the country to adopt a new ‘green finance’ model which ensures investment in biodiversity is realised in the conurbation.
The council’s ‘financing nature’ report outlines a strategy for financing investment in green spaces in the BCP area.
Money would be raised through the new Biodiversity Net Gain (BNG) government planning policy which became compulsory in February 2024.
The new national policy requires all developers to ensure that new developments have a measurably positive impact (‘net gain’) on biodiversity, compared to what was there before.
Developers need to deliver a BNG of 10 per cent and if this can’t be achieved, they can purchase units in a mechanism known as a Habitat Banking Vehicle (HBV).
HBV goes towards funding the restoration of specific habitats in designated UK areas or to support the survival of native species.
Over the next year, the council is working to set up an HBV to be used on multiple sites within the conurbation that could raise a £1.47m surplus, reinvested back into urban green spaces.
This means money collected from developers to fund biodiversity improvements will stay within the local BCP area rather than elsewhere in the UK.
Andy Hadley, cabinet member for climate change and environment, said: “The BCP area has one of the most diverse and rich natural environments in the UK and we in the council are absolutely committed to protecting and enhancing it.
“The new BNG planning policy presents us with a significant opportunity to improve our key green spaces for the benefit of our residents.
“We want to ensure that if developments are happening in BCP, the money to offset them is also being spent on boosting biodiversity locally.
"By developing this sustainable financing model, we not only advance our environment goals, but also strengthen BCP Council’s role in environmental leadership.”
The council policy, which is supported by Natural England and the National Trust, aims to launch following approval by full council in spring 2025, through BCP Council’s emerging local plan.
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