Habitat Bank of Meta
First in Colombia and Latin America
With a private investment of 1.5 million dollars, in December 2016 the first Habitat Bank in Colombia and Latin America was launched. The project is located in the municipality of San Martín de los Llanos in the department of Meta, in the sub-basin of the Metica River. To ensure effective offsets, it is expected that the Habitat Bank - Meta will secure permanent and sustainable conservation results for a 30 years term. In this way, it will be possible to achieve the restoration of degraded ecosystems and the conservation of the natural forest. Finally, it aims to reduce the costs of biodiversity compensations for companies, which would be reflected in a highly profitable investment, which guarantees the sustainability of the property. Below is a video that briefly explains how the Habitat Bank - Meta works:
Fotografía del Banco de Hábitat del Meta
First Habitat Bank registered with the Ministry of Environment
The Habitat Bank - Meta is the first of these mechanisms to obtain registration with the Ministry of Environment and Sustainable Development - MinAmbiente. This is an essential requirement to be able to comply with actions derived from obligations such as biodiversity offsets and compulsory investment of no less than 1% for water usage. The registration was carried out on November 10, 2017, according to official letter DBD-8201-E2-2017-034514 of the Ministry of Environment's Forest Directorate. This procedure was carried out in accordance with the provisions of Resolution 1051 of 2007, which indicates the necessary requirements for the implementation of habitat banks in the country.
Adicional a estas garantías, a continuación se presentan dos infografías que resumen la estructura, características e impactos que ofrece el Banco de Hábitat - Meta.
If your work or project is in any of the blue areas of the maps that are on the side, you can correct your environmental impacts of the compulsory water usage investment of no less than 1% or that of biotic compensations, in the Habitat Bank .
If you require additional information, you may send us your contact information, suggestions and concerns through our Contact us section.
Media coverage of the launch of the Habitat Bank - Meta
This was the coverage of the launch of the first Habitat Bank in Colombia
-Multilateral Investment Fund - Member of the IDB Group: The Multilateral Investment Fund (MIF) of the Inter-American Development Bank (IADB), Terrasos SAS, and landowners in Meta have committed to build the first Habitat Bank in Colombia. This is a solution for the implementation of biodiversity offsets, with which it is expected to achieve greater efficiency, visibility and quality of biodiversity offsets. Find out more.
- Ecosystem Marketplace: Inter-American Development Bank and Partners Sink $1.5M into South America's First Habitat Bank. Species banking is coming to Colombia: The IDB's Multilateral Investment Fund is partnering with the company Terrasos SAS to create the region's first habitat bank. The partners will invest $1.5 million and expect the bank to restore degraded ecosystems, conserving natural forests and reducing compensatory mitigation costs. Find out more.
- Communication of Corporate Responsibility and Sustainability - ComunicaRSE: The first Habitat Bank has been launched in Latin America, which has a payment-for-performance scheme for biodiversity compensations from licenses. The scheme materializes with a total investment by the MIF, Terrasos and the property owners of 1.5 million dollars. It is expected to restore degraded ecosystems, conserve natural forests and increase farm productivity, in addition to reducing costs for companies with offset requirements. Find out more.
Guarantees of the Habitat Bank - Meta
Amongst the guarantees offered by the Habitat Bank – Meta are the following:
1. Environmental Management Plan
2. Monitoring and follow-up plan, including impact indicators in biodiversity
3. External audit
1. Payment for performance: retention of payment until milestones are met
2. Management of funds is done through Autonomous Patrimony
3. Sustainability fund to ensure maintenance resources in the long term
1. Assurance of the compensation area through usufruct
2. Contracts with already established property owners
3. Contracts with companies based on payment for results
4. Registration with MADS