Economics of biodiversity

What: The Energy and Biodiversity Initiative (EBI) was a partnership, created in 2001, between four energy companies: BP, Shell, ChevronTexaco, and Statoil – and five conservation organizations, namely the Conservation International, Fauna & Flora International, Smithsonian Institution, The Nature Conservancy, and IUCN. The project was managed by the Center for Environmental Leadership in Business, a department of Conservation International , co-created with the Ford Motor Company.
Goal: The EBI was created to develop and promote biodiversity conservation practices in oil and gas exploration and exploitation.
First output: On August 25, 2003, the EBI released a report, which is designed to provide guidance for integrating biodiversity conservation into oil and gas development. It is composed of four guides concerning indicators, site selection process, impact assessments, and environmental management systems . There are also two discussions papers on the secondary impacts, and on biodiversity conservation opportunities. This was the EBI Phase I.
After the report: The group wanted to test and refine its recommendations during the EBI Phase II. The main goal was for industry to adopt, disseminate, apply, and gather feedback on, the EBI report and products. It finished on 2007.
Partnerships: It also joined the UICN group about extractive industries and biodiversity, work with the IPIECA . Like other initiatives, it paid attention to the other stakeholders: "Achieving this vision will require a collaborative effort among companies, conservation organizations, governments, communities and other stakeholders."
Awards: The EBI was awarded the 2002 World Summit Business Awards for Sustainable Development Partnerships, by the International Chamber of Commerce and the United Nations Environment Program.