Investor creates first tropical biodiversity credits

23 08 2008

Post reproduced from TakeCover08:

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

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 of formerly logged forest.

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

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

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