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International Finance & Biodiversity Offsets

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Written by Greg Radford, Managing Partner, ESSA Technologies and fmr Director of Environment, International Finance Corporation

Written by Greg Radford, Managing Partner, ESSA Technologies and fmr Director of Environment, International Finance Corporation

Published in: Education
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  • 1. International Finance & Biodiversity Offsets Greg Radford, M.Sc. Managing Partner, ESSA Technologies Ltd
  • 2. International Business Drivers  International Financial Institutions   Business Practices     IFC and Equator Principles 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.
  • 3. International Finance Drivers  Biodiversity & Ecosystem Services in Impact Assessment Special Symposium Inter-American Development Bank | Washington, DC, 7-8 February 2013 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
  • 4. IFC PERFORMANCE STANDARDS OVERVIEW WWW.IFC.ORG PS1: Assessment and Management of E&S Risks and Impacts PS5: Land Acquisition and Involuntary Resettlement PS2: Labor and Working Conditions PS3: Resource Efficiency and Pollution Prevention PS6: Biodiversity PS7: Indigenous Peoples Conservation and Sustainable Management of Living Natural Resources PS4: Community Health, Safety and Security PS8: Cultural Heritage
  • 5. PS6: BIODIVERSITY CONSERVATION AND SUSTAINABLE MANAGEMENT OF LIVING NATURAL RESOURCES 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
  • 6. Mitigation Hierarchy Gone Wrong…

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