International Finance & Biodiversity Offsets
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Transcript of International Finance & Biodiversity Offsets
International Finance & Biodiversity Offsets
Greg Radford, M.Sc. Managing Partner, ESSA Technologies Ltd
International Business Drivers
International Financial Institutions IFC and Equator Principles
Business Practices Voluntary corporate commitments to biodiversity are evolving Rio Tinto is a business leader with a “Net Positive Impact” policy commitment Other big players in mining are starting to follow Rio Tinto’s lead (e.g. some of the top
miners have biodiversity commitments in development that are not public yet).
Regulatory Existing and forthcoming national regulations. Examples include: Peru has published draft regulations for public comment that require No Net Loss to
biodiversity. Chile is drafting regulations too. Colombia already has similar regulations.
International Finance Drivers
The Biodiversity for Banks (B4B) program, is designed to help financial institutions overcome the challenges of incorporating risks associated with biodiversity and ecosystem services into their lending decisions.
http://www.equator-principles.com
http://bbop.forest-trends.org
Biodiversity & Ecosystem Services in Impact Assessment Special Symposium Inter-American Development Bank | Washington, DC, 7-8 February 2013
PS5: Land Acquisition and Involuntary Resettlement
PS6: Biodiversity Conservation and
Sustainable Management of Living Natural Resources
PS1: Assessment and Management of E&S
Risks and Impacts
PS2: Labor and Working Conditions
PS3: Resource Efficiency and Pollution Prevention
PS4: Community Health, Safety and Security
PS7: Indigenous Peoples PS8: Cultural Heritage
IFC PERFORMANCE STANDARDS OVERVIEW WWW.IFC.ORG
Objectives include: protection and conservation of biodiversity maintain benefits from ecosystem services
Offset requirements are established through the ESIA process Mitigation hierarchy includes biodiversity offsets Biodiversity offsets should achieve measureable conservation outcomes Offset must adhere to “like-for-like or better” principle “No net loss” requirement for natural habitats “Net positive gain” requirement in Critical Habitats
PS6: BIODIVERSITY CONSERVATION AND SUSTAINABLE MANAGEMENT OF LIVING NATURAL RESOURCES
Mitigation Hierarchy Gone Wrong…