A biodiversity credit system may be with us in the future. A number of models are proposed, nothing is set in concrete yet but we need to be cautious about how it would work and who would govern it. To many of us the commodification of nature is perverse and what dollar or credit value can you possibly place on nature? Also there is the risk that this could become a complete failure (like our emissions trading scheme for which current carbon credit value is at an all time low, while we continue to pollute our atmosphere at whim). Also should it really be something we "buy our way out" while others do the hard mahi.
Another risk is it could become a "greenwashing tool" for corporates who may be deforesting in other parts of the world. As to who should govern it, I really don't think it should be anywhere near a politician as they will tweak it to their own political gain. I like the idea of non governmental organisations who have good grass roots connections with the community rather than central or regional government. We are keen to hear your thoughts, submissions are currently being called for so please do speak up!!