Conceptual framework
Economic
Incentives
Economic Instruments are mechanisms that encourage changes in the behavior of economic actors through financial signals or incentives, without necessarily depending on supply and demand in a competitive market. They are used to influence the allocation and efficient use of resources, promoting conservation, sustainability, or the correction of environmental externalities. Unlike market instruments, which require a system of prices and transactions to operate, economic instruments can include both market and non-market mechanisms. Examples include subsidies, tax incentives, payments for ecosystem services, and environmental certifications.
Law for Nature
Enacted on August 21, 2023, the law aims to conserve biological diversity and protect the country's natural heritage through the preservation, restoration, and sustainable use of genes, species, and ecosystems.
Regarding the bill, this law provides the legal framework necessary to implement and regulate mechanisms that promote the conservation and sustainable use of natural resources. Specifically, regarding ecosystem conservation instruments, Article 38 refers to Biodiversity Offsets. Article 51 of the law also establishes the creation of the Biodiversity and Ecosystem Services Certification System, and Article 52 establishes Ecosystem Services Retribution Contracts, which are essential for incentivizing sustainable practices and the protection of biodiversity.
Retribution for ecosystem services
A voluntary mechanism through which those who benefit from ecosystem services contribute resources for their conservation or restoration. This can include monetary contributions or concrete specific actions to maintain ecosystem functionality.
Biodiversity and Ecosystem Services Certification System
This is a process by which activities, practices, or sites that meet specific criteria and contribute significantly to biodiversity conservation and the maintenance or restoration of ecosystem services are evaluated, validated, and recognized. This certification is voluntary and includes specific commitments to take action or abstain, failure to do so results in the loss of the certificate.
Offsets for Residual Biodiversity Impacts
Regulatory mechanism which requires projects with environmental impacts to offset their effects through equivalent or greater conservation actions. Its objective is to prevent net biodiversity loss and ensure that negative impacts are mitigated through effective measures.
Derecho Real de Conservación
A legal instrument that allows landowners to establish voluntary restrictions to ensure the long-term conservation of ecosystems on their properties. It ensures that ecosystem protection is maintained even if the property changes hands.