The Finnish Environment Institute, SYKE, has published a Policy Brief on ecological compensation (20.11.2019). According to the policy brief ecological compensation can help companies protect biodiversity. With the help of compensation, companies compensate human damage to nature by increasing the biodiversity. (SYKE 2019)
Ecological compensation means that local damage inflicted by humans on nature is offset by enhancing natural diversity elsewhere. Compensation can be done through restoring, managing, or protecting habitats. Compensation is a tool where harm cannot be avoided or alleviated on the spot. Examples of ways to compensate are the restoration of traditional agricultural environments, the restoration of drained marshes or the increase of decay woods in forests. The compensation payer is the operator who caused the damage, for example a company, municipality or the state. The method, amount and price of ecological compensation must be based on the threat to the habitat, its rarity and the means of restoration. Compensation should also, where possible, mitigate climate change. (SYKE 2019)
The actors of the compensation procedure consist of public authorities, intermediaries, companies, landowners and citizens. Below you can see the roles of the different actors.
Compensation is intended to encourage companies to proactively protect biodiversity, as compensation is a cost to businesses. Interest in ecological compensation has increased especially among companies whose operations alter the use of land and which need environmental permits to operate. (SYKE 2019)
Biodiversity or in other words, the abundance of wildlife (from animals to plants), is declining at an alarming rate. Already one in nine species is endangered in Finland. The main reason for the endangering is the loss of habitats and the quality of them. (Ministry of the Environment 2019, SYKE 2019) Biodiversity must be protected and maintained in order to safeguard life on Earth. Many species are vital to functioning ecosystems.
Ecobios experts – pioneers within biodiversity
Our biodiversity experts, Henrik Österlund and Inka Voutilainen, are currently one of the few biodiversity experts in Finland who can assist your company with biodiversity loss, company specific impact assessment and ecological compensation.
Do you have any questions? Do not hesitate to contact us at firstname.lastname@example.org