Einde inhoudsopgave
Corporate Social Responsibility (IVOR nr. 77) 2010/13.3.4.1
13.3.4.1 Costa Rica
Mr. T.E. Lambooy, datum 17-11-2010
- Datum
17-11-2010
- Auteur
Mr. T.E. Lambooy
- JCDI
JCDI:ADS367038:1
- Vakgebied(en)
Ondernemingsrecht (V)
Voetnoten
Voetnoten
GEF stands for Global Environmental Facility. An independent financial organisation, the GEF provides grants to developing countries and countries with economies in transition for projects related to biodiversity, climate change, international waters, land degradation, the ozone layer, and persistent organic pollutants. See: http://www.gefweb.org/interior_right.aspx?id=50, accessed on 1 April 2010.
K. Bennet, R. Henninger, 'Payments for Ecosystem Services in Costa Rica and Forest Law No. 7575: Key Lessons for Legislators', 2008, at: http://www.e-parl.net/eparlimages/gen-eral/pdf/090422%20e-Parliament%20Forests%20Initiative.pdf, accessed on 2 October 2009.
Watershed Markets 'Costa Rica - Energia Global', at: http://www.watershedmarkets.org/casestudies/Costa_Rica_ Energia_Global.html, accessed on 2 September 2009.
Bennet et al., supra note 107.
The government of Costa Rica has developed a nationwide PES programme as a response to the country's rapidly increasing rates of deforestation. The ecosystem service providers, i.e. private owners of forest lands, are paid by the State and GEF funds1 as well as by water users including hydropower companies, for the maintenance of forest cover in watersheds. In 1996, Forest Law No. 7575 was enacted in order to legally set up PES schemes.2 The law provides a regulatory framework for the adoption of financial incentives for maintaining forest lands and a legal basis for the government to contract property owners to provide services originating from their land. One ofthe PES schemes within the framework of this national programme is the Costa Rica -Energia Global project. This initiative is a public-private partnership in which the following parties participate: the hydropower company Energia Global (the main investor), the Government of Costa Rica Fund (income source: mostly fuel tax revenues) and the National Fund for Forestry Financing that acts as a national intermediary. The ecosystem services that are being financed are:
the continuity of water flow for hydroelectricity generation; and
biodiversity protection. Energia Global is heavily dependent on the storage of water. Two small reservoirs can only store an amount of water sufficient for five hours' generation. It is therefore fundamental for the company to increase the stream flow regularity, especially in the dry season, when prices for electricity production are highest. It is also important to reduce reservoir sedimentation.3 It was estimated that an increase in forest cover upstream will provide for these services. At first Energia Global was focused on an increase in water quantity; however, after the renewal of the contract the emphasis was on water quality. The company was interested in the protection of the basins that drain into the San Fernando and Volcan rivers, which feed their plants. The company's ambition was to protect 1,818 hectares in the San Fernando area and 2,493 hectares around the Rio Volcan area. Energia Gobal had calculated that its investment in watershed management would be a profitable venture if it would be able to obtain an extra 460,000 cubic meters of water. There are no records as to whether this goal was achieved. However, the company's willingness in 2003 to prolong the contract for another five years suggests that both the farmers and the company perceive net benefits from their PES arrangement.4