isa Areas of Particular Environmental Interest in the Clarion-Clipperton Fracture Zone

In: The International Journal of Marine and Coastal Law
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  • 1 UK
  • | 2 CICS.NOVA, Interdisciplinary Center of Social Sciences, FCSH-Universidade Nova de Lisboa, Lisbon, Portugal

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  • 39

    In 2008, cbd cop-9 Decision ix/ii adopted a resource mobilization strategy to assist Parties in establishing national targets, goals, as well as actions for enhancing international financial flows and domestic funding for biodiversity. Part of this Strategy (Goal 4) is to explore ‘new and innovative financial mechanisms’.

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    In 2010, cbd cop10 Decision x/2 adopted a Strategic Plan for Biodiversity 2011–2020 with 20 headline targets for 2015 or 2020 (the “Aichi Biodiversity Targets”) grouped under five Strategic goals: A: Address the underlying causes of biodiversity loss by mainstreaming biodiversity across government and society; B. Reduce the direct pressures on biodiversity and promote sustainable use; C. Improve the status of biodiversity by safeguarding ecosystems, species and genetic diversity; D: Enhance the benefits to all from biodiversity and ecosystem services; and E. Enhance implementation through participatory planning, knowledge management and capacity-building. Available at http://www.cbd.int/decision/cop/?id=12268; accessed 19 March 2015. See also oecd, Scaling-up Finance Mechanisms for Biodiversity, 2013. Available at http://www.oecd-ilibrary.org/environment/scaling-up-finance-mechanisms-for-biodiversity_9789264193833-en; accessed 6 January 2015.

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    Energy & Biodiversity Initiative, “Guidance on Integrating Biodiversity Conservation into Oil and gas Development”, 2003. Available at http://www.theebi.org/pdfs/ebi_report.pdf; accessed 19 March 2015.

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  • 47

    Equator Principles, “A financial industry benchmark for determining, assessing and managing environmental and social risk in projects”, 2013. Available at: http://www.equator-principles.com/index.php/about-ep; accessed 30 December 2014; The Equator Principles are themselves based on the International Finance Corporation’s Performance Standards. Within the latter, Performance Standard 6 requires a net gain for impacts on critical habitat and No Net Loss where feasible for impacts on natural habitat. International Finance Corporation (ifc), “Performance Standard 6. Biodiversity Conservation and Sustainable Management of Living Resources”, 2012. Available at http://www.ifc.org/wps/wcm/connect/bff0a28049a790d6b835faa8c6a8312a/PS6_English_2012.pdf?MOD=AJPERES; accessed 6 January 2015.

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  • 56

    Freestone (n 54), at p. 1098.

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