ICMM, IPIECA and Equator Principles Association launch cross sector biodiversity initiative
ICMM, IPIECA (the global oil and gas industry association for environmental and social issues) and the Equator Principles Association have launched a cross-sector biodiversity initiative (CSBI) in Washington, D.C.
The initiative has been created to develop and share good practices and practical tools to apply the new International Finance Corporation's (IFC) performance standard 6 on biodiversity conservation. IFC's performance standards have become globally recognized as a benchmark for environmental and social risk management in the private sector.
CSBI aims to share experiences and to create a culture of learning and continuous improvement. The collaboration is being trialled by ICMM, IPIECA and the Equator Principles Association for one year with a view to longer term collaboration.
Although the CSBI is an industry forum, the group will engage with non-industry groups who have interest and experience in offsets and the biodiversity mitigation hierarchy included in IFC performance standard 6.