offset scheme under the Biodiversity Conservation Act 2016 was started in August 2017(Ansell, Gibson & salt, 2016). The aim of this legislation was to address the loss of biodiversity values due to degradation of habitats. Biodiversity banking is a market-based scheme that provides a streamlined biodiversity assessment process that enables a rigorous scheme that helps owners of land to get income by managing land for conservation (Australian biological resources study, 2010). This works by generating biodiversity credits by landowners who commit themselves to protecting values of biodiversity on their own land by signing the bio banking agreement. The credits generated over time can be sold to generate money to help manage their land. An ecological community is a natural group of plants, animals and other organisms which are native interact with the unique natural habitat. Types of ecological communities include;forests, wetlands, marine, woodlands, grasslands, ground springs and cave communities. Native plants and animals in an ecological community play different roles and they interact differently to contribute to a healthy environment. The functioning of these contributes to the better productivity of land and water which benefits the society in general.History of biodiversity and the need for its developmentBiodiversity has been a subject of discussion in the environment circles over the years. The concept of biodiversity was conceived by Walter Rosen of the National Academy of Science (NAS) in the year 1985. During this period, there was a great concern for conservation both among the scientist and the society in general. This resulted in the formation of the society for conservation Biology (SCB) in the year 1985. In the year 1987, the society published the first journal of titled Conservation Biology (Lindenmayer & Gibbons, 2012). The biodiversity is unevenly distributed throughout the earth and its rich in the tropical areas. The latitude gradients of places also determine the biodiversity of a place. Marine biodiversity is high among coastlines

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