Biodiversity bank comes under fire  By Tim Dick Urban Affairs
Reporter August 5, 2005  The State Government's new
"biodiversity banking" plan will fail in its mission to protect
threatened species unless serious gaps are plugged,
environmental groups have cautioned.  Their warning came after
the State Government launched the "bio-bank" which will allow
developers to clear sensitive habitats, provided they pay to
conserve others.  A two-year trial of the scheme will begin next
year in the Lower Hunter and Far North Coast.  Regional plans
will divide the areas, which are under serious development
pressure, into three zones - green, amber and red.  Green
symbolises areas of little biodiversity importance, amber zones
have some important habitats, while red zones have many.
Developments in amber zones can go ahead if credits are bought
from the bio-bank, which will fund conservation projects.  "The
colouring system is bizarre because it turns everything on its
head," said a senior lecturer at the University of Sy