In 2008, the government of Sabah, Malaysia teamed up with the Eco Products Fund, a private equity investment vehicle jointly managed by New Forests Inc. and Equator Environmental, LLC, to invest up to US $10 million in the restoration and maintenance of 34,000 hectares of rainforest in a project called the Malua BioBank. The project sells "biodiversity conservation certificates for the biodiversity benefits of 100 square meter plots of restoration as well as for the maintenance of habitat for at least 50 years. The project is unique for enabling the long-term (and potentially permanent) protection of biodiversity via a voluntary purchase. Additionally, the project provides transparency through a third party registry. Early buyers have included businesses and non-profits from a range of industries, such as tourism, timber, and palm oil. The Malua BioBank is offering to link the conservation credits to companies' specific products or supply chains, and the BioBank is also starting to develop biodiversity offset products where a company is seeking to quantify offset measurable conservation impacts.
|Date Established: 2008||Status: Active||Program Type: Banking|
|About the program:|
|Annual size of program (area): (acre)||Year of Data:|
|Cumulative size of program (area): 34,000 (hectares)||Years of Data: -|
|Annual payments of program (US$):||Year of Data:|
|Cumulative payments of program (US$):||Years of Data: -|
|Notes on program size or payments:
Information from Malua BioBank indicates that up to US$10 million could be invested in rainforest restoration/ protection.
|Species or habitat types (if applicable):|
|Bank regulator information: N/A - voluntary, but the public-private partnership involves the Sabah Forestry Department, and transparency of transactions is provided by third-party registry provider Markit||Last Updated: September 23, 2010|