- How to become a signatory?
CEO of organisation required to sign IBBI Declaration to demonstrate the organisation’s commitment towards biodiversity conservation and sustainable use of ecosystem services provided by biodiversity on which company is dependent or impacting.
- Is there any fee involved to become IBBI signatory?
Becoming IBBI is voluntary and no cost involved.
- What are the commitments expected from companies?
The expectation from company are towards the conservation and sustainable use of biodiversity and services provided by biodiversity in own operations as well as value chain.
- What is the time-frame provided for completion of the commitments?
The company needs to report biennually on the progress made by the company on the 10 IBBI Declaration points (if not all).
- What support is provided by IBBI to fulfill the commitments taken up by companies through signing IBBI?
The IBBI will support signatories through in-house tools developed by the international experts to understand the impacts and dependencies of the company on B&ES. Availing these services would entail specific fees which would be according to the nature, type, scope and scale of the company/ business.
- What are IBBI reporting requirements?
The signatories need to report biennually on the steps taken to implement IBBI Declaration in operations and value chain. IBBI will provide the indicators to all declaration points to signatories.
- What new developments are expected in this field over next 5 years?
The Government of India came up with 12 National Biodiversity Targets in 2014 based on the CBD’s 20 Aichi Targets to be achieved by 2020. The Indian business may support GoI to achieve these targets through mainstreaming biodiversity in to their business. Many of the targets will have direct implication on how businesses are functioning at present. Stricter rules and more no-go zones will be visible. IFC performance standard 6 used by various lending agency as a standard to map, how a business deals with biodiversity.