Biodiversity banking: a strategic conservation mechanism

Among the conservation initiatives, biodiversity banking is a strategic new concept that calls for advocacy by the researchers, conservationists, policy planners and business corporate houses to enhance the conservational behaviour of the stakeholders. The concept has dual benefits of restoration of livelihood support systems and conservation of biodiversity that provides ecological services and economic benefits to civil society. Currently, lack of defined guidelines with robust valuation and incentive mechanism for biodiversity banking has resulted in ‘business as usual’ situation especially in developing and under developed countries. There is need for re-defining the country level biodiversity banking guidelines for the effective private-government-stakeholder participation. Furthermore, the mechanism must consider using robust scientific database of inter-disciplinary nature and suitably adopt the modalities of successful case studies to overcome the flaws/risks. Biodiversity banking is a realizable concept in developing and resource poor countries as additional livelihood support system through the market of accrued ecosystem services linked to conservation behaviour of stakeholders.