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 this funding mechanism to fill the funding gap for protected areas in Madagascar. Questions about the limits of this mechanism are still pending, and the Foundation continues to design the framework with the support of its partners, such as the COMBO+ project funded by the French Development Agency (AFD) and the French Facility for Global Environment (FFEM). If you would like to discuss this with FAPBM, please contact us at mail@fapbm.org .
