Biodiversity Offsetting
The promise to offset biodiversity destruction opens the door for corporations to obtain funding and access land which would otherwise be off limits for large-scale destruction. Promises to recreate or protect habitat of "equivalent" ecological value elsewhere is even opening up protected areas and World Heritage Sites to corporate destruction. Biodiversity offsets therefore create double destruction and exploitation, since corporations control both the territories affected by industrial activities as well as those targeted for offset projects.
BIOFUND, a conservation fund to finance protected areas in Mozambique—with support from the World Bank, international cooperation and conservation NGOs—intends to use biodiversity offsets to obtain resources and speculate in financial markets.
