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The Ecological Company for Ethical Investors

The Ecological Company for Ethical Investors. Pro-Biodiversity Business ~ An illustration from the Lower Danube Paul Goriup. Business Attitude to Environmental Investment. Net Ecological Benefit.

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The Ecological Company for Ethical Investors

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  1. The Ecological Company for Ethical Investors Pro-Biodiversity Business ~ An illustration from the Lower Danube Paul Goriup

  2. Business Attitude to Environmental Investment

  3. Net Ecological Benefit • Net Ecological Benefit is the difference in ecological state of a geographically determined area from the present time projected forward to a specified future date, which can be considered as an improvement in ecological conditions and functions for habitats and/or species. • Net Ecological Benefit infers the sustainable use of natural resources as an inherent feature of an investment proposal.

  4. PBB Investment Niche PBBs

  5. Biodiversity in Business • Forestry • Agriculture • Fisheries • Pharmaceuticals / cosmetics • Water / soil conservation • Green Tourism • Biomass

  6. Company Development • 1996: Private limited company incorporated in England, endorsed by UK Ethical Investors Group • 1999: FIED converted to a Public Limited Company to facilitate share offers and first step for potential listing • Since 1996, >£160,000 of share capital contributed from individuals, as well as preference capital from WWF (1998) and Doen Foundation (2002) • Fieldfare has a subsidiary (Salix) in Odessa, Ukraine; a JV (Salvinia) in Bulgaria; subsidiary in Romania closed

  7. Main Statutory Objects • To promote ecologically sustainable development and the maintenance of ecological processes through wise use of natural resources, restoration of damaged ecosystems, conservation of genetic diversity, and increasing human understanding of and capabilities to protect global biodiversity • To adhere to an ethic of environmental care which strives to ensure that the operations of the company shall not result in unsustainable use of natural resources, emission of environmental pollutants, wastage of materials, or lead to the destruction of the social fabric of local communities

  8. FIED Approach • to promote ecologically sustainable development and wise use of land and natural resources, especially in the Lower Danube region • to foster local employment and develop business activities that monetise nature and have a “net ecological benefit” • to provide a POSITIVE platform for utilising the resources of the ethical investment movement, with the eventual aim of a public listing

  9. PBB Cluster Development

  10. Lower Danube Region The Lower Danube Region

  11. Lower Danube lakes, islands & steppe Eco-business Centre, Reni Ecotourism Centre, Vilkovo Cross-Border Biosphere Reserves Main Investment Locations

  12. Ecologically-sensitive tourism • Biomass energy from reedbed restoration and management • Organic farming: cereals, fibres and sunflower oil • Angling based on native fish & organic fish production Investment Studies

  13. Monitoring Net Ecological Benefit • A proposal for a pro-biodiversity business investment should be able to demonstrate with independent expert verification that Net Ecological Benefit will take place, and that this improvement is directly attributable to the investment itself, and its operation over time.

  14. Monitoring Net Ecological Benefit

  15. Monitoring Net Ecological Benefit The selection of appropriate indicators has to take account of: • the business activities of the company; • locality of the business and adjacent environmental conditions; • whether benefits will be arise from use, restoration or set aside; • presence of habitats or species of conservation concern; • feasibility of monitoring; • potential for autonomous data collection by the company itself.

  16. Monitoring Net Ecological Benefit: selected EEA SEBI

  17. Ecotourism Strategy

  18. Ecotourism Purpose • FIED works to attract visitors as a market for local business partners in sectors such as crafts, angling, private accommodation, traditional cuisine, biofuel and organic farming • In return, our business partners help to raise environmental awareness, protect valuable habitats and maintain local culture

  19. The Delta ... Europe’s Tropics

  20. The Coast ... Secluded Shores

  21. Eco-Tourism Development

  22. Eco-Tourism PBB Benefits • A private hotel owner has leased a nearby Nature Reserve to manage it for biodiversity conservation & ecotourism • Donations made to improve management / communications at three Biosphere Reserves • Assistance for formulating local Green Tourism policies • Counterweight to mass tourism development

  23. Black Sea Scene – QC for Biodiversity Data • Environmental Collaboration for the Black Sea – MPA planning • Black Sea Environment Programme – Biodiversity Monitoring and Conservation • Natura 2000 in Bulgaria and Romania – Data base design and site management Relevant Project Work

  24. EU ProBioPrise Study

  25. Some Lessons • Communication The FIELDFARE approach is unconventional and much communication is required with local stakeholders to allay suspicions that the company has some hidden agenda that will, in due course, put partners at a disadvantage. Keeping investments relatively small, and engaging NGOs, are helpful in this regard.

  26. Some Lessons • Multi-sectoral Approach Linking investments to ecological benefits (e.g. wetland restoration) usually require a multi-sectoral approach: for example, tourists need decent accommodation, clean food, transport, information, guiding, etc.

  27. Some Lessons • Multilateral Investments It is helpful to work with several partners on a project to prevent investments being captured, to forestall corrupt practices, encourage competition, increase bargaining power, and facilitate redundancy if any one partner proves unsatisfactory.

  28. Some Lessons • Training and Supervision In the rural areas where FIELDFARE operates, there is a virtual absence of qualified personnel even if entrepreneurial talent is available. Engaging management staff, training them, and continuously supervising their work is essential, and expensive.

  29. Some Lessons • Delivering Rapid Results It is expected that once a decision is made, results will flow rapidly. This may not always be possible, but at least some quick, visible achievements should be planned. FIELDFARE’s purchase of property demonstrated commitment more effectively than any speeches or documents.

  30. Some Lessons • Due Diligence Audits This is vital when selecting partners in an economy in transition where accounting practices, valuation of assets and liabilities, profitability, depreciation and similar concepts are poorly developed, if at all.

  31. Some Lessons • Legal Backup The legal situation regarding land ownership, authorisations, investment and other matters is often unclear or contradictory. A similar situation exists with regard to accounting, tax planning and repatriating profits. Good professional advice is needed, preferably from several experts.

  32. Some Lessons • Expectation of Change During the transition period, few officials remain in post for long. And there can be Orange revolutions . . .

  33. Further Information … www.smeforbiodiversity-steppes.com www.ecnc.org/BiodiversityFinanceC/Index_711.html

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