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Research Document - 2014/109

A Review of Equivalency in Offsetting Policies

By Keith D. Clarke and Michael J. Bradford

Abstract

Under the Fisheries Act (2012), when a project or development activity is determined to cause serious harm to fish, the Minister shall consider whether measures and standards have been applied by a proponent to avoid, mitigate or offset serious harm to fish. Here offset refers to measures to counterbalance the impacts of the project and could be in the form of habitat replacement, enhancement or other activities designed to increase fisheries productivity. Equivalency refers to the methods used to compute the amount of offsetting required, relative to the magnitude of the impact.

This report provides an overview of methods, approaches and considerations for equivalency calculations that are part of offset programs to maintain habitat or biodiversity. Programs for the US, Europe and other regions are summarized as is the international literature on offset and equivalency methods. Approaches for dealing with uncertainty and time delays in impacts or benefits are reviewed and illustrated with hypothetical examples. This review is intended as background information for the development of offset procedures in support of the fisheries protection provisions of the Fisheries Act (2012).

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