Environmental Licensing (Colombia)

Environmental compensation is practiced at a national level through the national environmental legislation, Decreto 1753, which called for environmental licensing. To obtain an environmental license from the Ministry of Environment or local environmental authority any new development project must offset thier impacts based on a simple calculation of trees per hectare that the project will affect in that particular ecosystem. The developer is then required to compensate via reforestation close to the project site. Alternatively, the developer may pay into a reforestation fund. There currently is no credit banking system, so the developer usually works with local farmers to plant trees or restore habitats. There is no detail guidance on the types of trees required for reforestation. Guidance on monitoring is also lacking.

Program Statistics

Date Established: 1994 Status: Active Program Type: One-Off Offset
About the program:
Annual size of program (area): (acre) Year of Data:
Cumulative size of program (area): (acre) Years of Data: -
Annual payments of program (US$): Year of Data:
Cumulative payments of program (US$): Years of Data: -
Notes on program size or payments:
Species or habitat types (if applicable):
Notes: http://pwc.co.uk/pdf/premium/undp_colombia.pdf
Bank regulator information: Ministry of Environment or local environmental authority (Corporaciones) Last Updated: June 22, 2010