Tag: offset-program

As a pioneer of the Offset funding mechanism in Africa, FAPBM had a remote discussion with BIOFUND, a Conservation trust fund based in Mozambique, on June 14, 2022 during a distance exchange. The development of mining industries in Africa raises questions about the need for offset mechanisms. In Madagascar, offsetting is carried out on a voluntary basis, following the examples of Canadian QMM-Rio Tinto and Japanese Ambatovy. Biodiversity offsetting is an innovative mechanism that mobilizes the private sector to co-finance protected areas and/or other activities related to the conservation of biodiversity. It compensates for the residual negative impacts after avoidance and mitigation of their projects/activities. FAPBM manages the biodiversity offset fund of Qit Minerals Madagascar (a subsidiary of Rio Tinto). The fund is intended for the conservation of the new protected area (NPA) of Agnalazaha (South East Madagascar), managed by the Missouri Botanical Garden. FAPBM hopes to expand the use of …

An in-depth study by Bangor University on the Ambatovy mine’s efforts to achieve a no net loss of biodiversity was the subject of a webinar organized by WCS’s COMBO+ (Conservation, Minimization of Biodiversity Impacts and Offsets) program and the IUCN (International Union for Conservation of Nature) IMEC (Impact Mitigation and Ecological Offsets) Thematic Group on March 31, 2002. Following the presentation of the study, FAPBM, through its Executive Director, Alain Liva Raharijaona, presented the QMM-Rio Tinto offset program for the Agnalazaha protected area (South-eastern Madagascar), which is financially managed by FAPBM. Biodiversity offsets are a standard compensation mechanism for the extractive and mining industries and are the last resort when avoidance, reduction or restoration measures cannot be applied. They generally aim to achieve No Net Loss (NNL) of biodiversity, and if possible, a Net Gain. The Agnalazaha protected area, managed by Missouri Botanical Garden (MBG), was chosen by QMM-Rio Tinto …