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Biodiversity impact offset: partnering with the extractive sector in Colombia

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Colombia is ranked internationally as one of the most mega-diverse countries, with only 0.22% of the earth’s land territory being home to about 10% of the currently known species on the planet. It is the first country in species of birds (1,889 species) and amphibians (763 species) and is also rich in mammals (479 species). The country also houses approximately 40,000 species of plants, accounting for 15% of global diversity.

Due to deforestation and unsustainable land transformation, biodiversity in Colombia is being lost at an alarming rate. The main causes of deforestation are land use changes for agriculture, infrastructure projects, illegal crops, internal migration, mining, legal and illegal extraction of timber and forest fires. The expansion of cattle ranching is the main driver of deforestation and land use change. Over the past fifty years the areas devoted to cattle ranching in Colombia increased dramatically from 14.6 to 39 million hectares.

According to the Fifth National Report on Colombian Biodiversity for the Convention on Biological Diversity there are other key drivers challenging the Colombian biodiversity, namely the decrease, loss or degradation of native ecosystems and agro-ecosystems, invasive species, water pollution and climate change.
The Country Environmental Analysis developed by the World Bank states that environmental degradation in Colombia generates a cost equivalent to 3.5% of GDP; this includes costs associated to floods, landslides and soil degradation.
Category: #Biodiversity Offsets #Case Studies #Private Partnerships #Water