17 Dealings with Trust land for biodiversity banking schemes, carbon sequestration and related purposes
17 Dealings with Trust land for biodiversity banking schemes, carbon sequestration and related purposes
(1) The Trust may, with the consent of the Minister, do any or all of the following—
(a) establish or provide habitat for threatened species, populations or communities, including for the purposes of any biodiversity banking scheme or other similar scheme that involves the provision of compensatory habitat,
(b) establish and maintain tree plantations on Trust land (including Trust land within the Parklands) for the purposes of carbon sequestration (and any incidental purposes) and participate in any greenhouse gas emissions trading scheme,
(c) create, acquire, hold, sell or otherwise deal with or trade in carbon sequestration rights within the meaning of section 87A of the Conveyancing Act 1919,
(d) enter into any arrangement, give any undertaking or do any other thing for the purpose of complying with the abatement certificate scheme established under Part 8A of the Electricity Supply Act 1995 or any other scheme intended to promote the reduction of greenhouse gas emissions, or offset greenhouse gas emissions, established by or under an Act of this State or any other State, of a Territory or the Commonwealth or of another country.
(2) The Minister may grant consent under subsection (1), but only if the granting of consent would assist the funding of the Trust’s operations, or generate revenue to be paid into the Sydney Region Development Fund, and the Minister is satisfied that the granting of consent would not adversely affect the application of the following principles to the Parklands—
(a) the Parklands are to act as a corridor linking core habitat (such as habitat of endangered Cumberland Plain Woodland),
(b) the north and south areas of the Parklands are to be linked by a circulation or access network to enable access to all parts of the Parklands that are available for recreational use,
(c) the continuity of the Parklands from north to south are to be preserved so that they operate as a scenic break in the urban fabric of Western Sydney.