The Future of Farming – Biodiversity Offsetting
In the next few years you may be able to benefit from a new income source if government plans are achieved. Biodiversity Offsetting is the creation of new habitats to compensate for losses from new developments.
This would mean that Landowners could sell the use of their land to produce these offset areas. These would be long term commitments, but the payments could be attractive given the value locked up in development land.
DEFRA has issued a formal consultation on how this could be incorporated into the Planning System. However this clearly shows that the Environmental Management Enterprise is becoming an increasingly important part of all Farm businesses.
Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.