(1) Determine the baseline conditions with respect to biodiversity at the company's site |
(2) Assess the likely impacts of the project |
(3) Identify potential offset options consistent with conservation priorities |
(4) Assess the baseline conditions at the offset site(s) and determine if they are commensurate with the predicted losses caused by the company's impacts |
(5) Determine an appropriate offset replacement ratio (i.e., offset units per unit of impact) |
(6) Develop a plan for managing and monitoring the offset and the company's project (to ensure project impacts do not diverge from estimates and expectations) |
(7) Obtain legal and financial assurances to secure tenure of the offset site, support long-term management and monitoring, and cover remedial actions in the event of failure |
(8) Implement the offset in accordance with plans and "best practices." |