Chile introduces biodiversity compensation guidelines
Chilean environmental authorities along with the Wildlife Conservation Society (WCS) launched a biodiversity compensation guide, which suggests seven stages to design and implement a compensation plan.
The 40-page document aims to help companies mitigate, repair and compensate for the effects of projects entering the country's environmental impact evaluation system (SEIA).
Previous environmental regulations allowed companies to compensate for damages to biodiversity by building schools or churches.
"This is not a license to destroy and then compensate," Bárbara Saavedra, director of the WCS Chile office, told local newspaper La Tercera, "it is a set of steps to precisely prevent and mitigate damages and eventually compensate for the inevitable."
The guide also introduces limits to prevent certain biodiversity from being intervened or compensated for.
According to Saavedra, though Chile's economy depends on the exploitation of its natural resources, it stands out in the region for the lack of investment to preserve, restore and compensate damage done to its ecosystems.
"Environmental guidelines and regulations are still perceived – among Chilean private players – as a brake on the economy, instead of an opportunity to prevent the erosion of the environment and natural capital, while rebuilding trust with the communities," she said in a letter to local website El Mostrador.
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