Central and South America

Most countries in Latin America have existing Environmental Impact Assessment (EIA) laws that address impact mitigation and many also feature examples of voluntary compensation schemes. A majority of the programs tend towards government compensation rather than a market-based system for offsetting impacts to biodiversity. Only a few countries are developing offset programs, but the existing programs are laying foundation for a future where we may see more market-like mechanisms.

Active Programs in Central and South America

Number of Active Programs: 8
List of Active Programs: Industrial Impact Compensation (Brazil), Environmental Services Certificates (Paraguay), Forest Code Offsets (Brazil), Conservation Trust (Paraguay), Program for Environmental Restoration and Compensation (Mexico), Environmental Licensing (Colombia), Environmental Impact Assessment Law and Environmental Compensation Fund (Argentina), Environmental Impact Assessment Law (Costa Rica)
Number of Programs in Development: 2
List of Programs in Development: TNC's Development by Design Pilot in Colombia, INE Biodiversity Banking Initiative for SEMARNAT (Mexico)