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Habitat Banks

Habitat Bank - Meta

What are habitat banks?

The Habitat Banks are lands whereadd compensation requirements and actions to preserve, improve or restore ecosystems are implemented to offset negative impacts on biodiversity. Through the Habitat Banks, quantifiable gains in biodiversity are generated, which are used so that companies compensate for the environmental damage caused.This mechanism is aimed at generating a payment mechanism for environmental results,fact with which it is possible to achieve increases in productivity, efficiency and quality of environmental compensation.To ensure the success of the Habitat Banks, they enjoy financial, technical and legal guarantees,aspects little considered in environmental investment mechanisms.

 

Thus, Habitat BanksThey are intended to serve as aggregate compensation schemes, where several companies can compensate for their effects on the environment in a single area.In addition, these Banks become a cost-efficient solution, wherewho generates the impacts only makes payments to the extent that different milestones are metin the process of designing, structuring, and maintaining the biodiversity units, which have their equivalent in terms of hectares

Habitat Bank - Meta

Habitat banks in Colombia

Since 2013, Terrasos, together with the NGO Fundepúblico, have worked on the issue of biodiversity offsets for a simple reason, although environmental management instrument was established in 1993, the country has no record of where or how they have been implemented. Under this scenario, these two organizations developed a proposal for the implementation of compensation through Habitat Banks.

 

These banks are a mechanism incorporated in several countries that has proven to make biodiversity compensation processes more efficient, to the extent that they facilitate compliance and, at the same time, improve control and surveillance by environmental authorities. Habitat banks are also an opportunity for the country to generate environmental public policy instruments that can translate into opportunities for rural development and protection of natural resources.

 

Within this research, documents and materials were developed in order to motivate reflection on the way in which Colombia can move forward to a more effective implementation of biodiversity offsets. From this work, the following infographics emerged:

Habitat Bank - Antioquia

What solution do they offer?

• Greater probability of success of compensation measures andreduced transaction costs

• Income opportunities for property owners for the improvement of land use practices andincreased environmental gains, plan and invest in advance.

Habitat Bank guarantees

Normatividad relacionada con Bancos de Hábitat en Colombia

Regulations related to Habitat Banks in Colombia