Investor creates first ‘tropical biodiversity credits’

An Australian investment company has launched what it describes as the first tropical biodiversity credit scheme, Mongabay.com reports.

New Forests, a Sydney-based firm, has established the Malua Wildlife Habitat Conservation Bank in Malaysia as an attempt to raise funds for rainforest conservation.

The “Malua BioBank” will use an investment from a private equity fund to restore and protect 34,000 hectares (80,000 acres) of formerly logged forest.

The area will seve as a buffer between biological-rich forest reserve and oil palm plantations.

The credit scheme will generate “Biodiversity Conservation Certificates”, which wil be sold to bankroll a perpetual conservation trust and produce a return on investment for the Sabah Government and the private equity fund.

Source: Mongabay.com

Date: 13/08/2008

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One Response

  1. […] Investor creates first tropical biodiversity credits 23 08 2008 Post reproduced from TakeCover08: […]

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