Session Description
Over the past two decades, biodiversity impact assessment under IFC Performance Standard 6 (PS6) has been largely framed around achieving no net loss (NNL) of biodiversity through the mitigation hierarchy and, where necessary, biodiversity offsets. Reflecting on this accumulated practice, NNL has contributed to greater consistency in biodiversity risk management across projects and sectors. However, its effectiveness in halting broader biodiversity decline remains increasingly questioned.
Aligned with the IAIA27 theme, “Looking back for the future of impact assessment,” this session critically reflects on lessons learned from the implementation of NNL to inform the future direction of biodiversity assessment. Key challenges include limitations in offset design and performance, persistent uncertainties in measurement, and concerns regarding long-term outcomes and accountability.
At the same time, expectations are evolving toward more ambitious, outcome-driven approaches, with growing emphasis on “nature positive” commitments that seek to deliver measurable net gains for biodiversity. This shift, which is reflected in emerging policy frameworks, financial sector expectations, and corporate commitments, raises important questions about whether current PS6-based approaches remain fit for purpose.
Through case studies, methodological insights, and policy perspectives, this session will examine how impact assessment practice can evolve, building on past experience while addressing current limitations, to better align with emerging biodiversity objectives and deliver more credible and effective outcomes.
Session Summary
This session reflects on lessons from PS6 implementation to assess how no net loss has performed and whether shifting expectations toward nature-positive outcomes require evolution in impact assessment practice.
Session Chair
Santi Ribadeneira
Export Development Canada (EDC)
Canada