Submitted by: International Finance Corporation
Posted: Jul 17, 2007 – 03:18 PM EST
WASHINGTON, D.C.- July 17, 2007 – The expansion of agriculture is the leading cause of habitat loss around the world and one of the greatest threats to global biodiversity. IFC and the Global Environment Facility, with other donors and partners, will launch an initiative in the third quarter of 2007 to promote best environmental and social practices in the production and overall supply chain of four commodities: palm oil, cocoa, soybeans, and sugarcane.
The initiative, the Biodiversity and Agricultural Commodities Program, recently obtained final approvals from IFC and the Global Environment Facility.
The program will offer advisory services for projects involving the private sector that support adoption of better management practices at the production level, increase the demand for biodiversity-friendly products, and improve financial institutions' ability to support adoption of biodiversity-friendly practices. The program will also support multistakeholder initiatives that create sustainable markets for agricultural commodities.
The program management unit will send out requests for project proposals in September/October 2007.
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