In this letter, 16 civil society groups urge the IFC to significantly strengthen its biodiversity safeguard standard (PS6) by replacing the current “no net loss” approach with a stricter “no loss” standard. The letter argues biodiversity offsets often fail because ecosystems are unique, restoration is uncertain, and monitoring is weak, allowing irreversible damage to continue under the promise of future compensation. To address these concerns, the IFC should prioritize preventing ecological harm, strengthening accountability, and protecting Indigenous rights rather than relying on offsets and mitigation after damage occurs.
Key recommendations
- stronger protection of critical ecosystems and Indigenous territories as “No Go” areas,
- mandatory Free, Prior, and Informed Consent (FPIC) for Indigenous Peoples,
- alignment with global biodiversity frameworks like the Kunming-Montreal Global Biodiversity Framework,
- exclusion of high-impact sectors such as industrial agriculture, fossil fuels, deep-sea mining, and large hydropower,
- better assessment of indirect impacts and supply-chain harms like deforestation,
- stricter oversight of financial intermediaries and advisory services,
- integration of enforceable animal welfare standards into biodiversity safeguards.