BIOFIX BIC Receives Recognition for Best Practices in Sustainable Development

Bogotá, October 6, 2023 – During the 13th Global Compact Congress – Red Colombia, in partnership with the Bogotá Chamber of Commerce, BIOFIX BIC was awarded the Recognition for Best Practices in Sustainable Development for its work on the YAAWI IIPANA REDD+ Project. The initiative was distinguished as an innovative and exemplary practice aligned with the principles of the Global Compact, as it not only promotes environmental protection but also fosters the participation of local communities in decision-making within REDD+ project development.

The YAAWI IIPANA REDD+ project aims to prevent the emission of 29,642,371 tCO2e into the atmosphere by conserving 671,145 hectares of forest in the Morichal Viejo, Santa Rosa, Cerro Cocuy, Santa Cruz, and Caño Danta Indigenous Reserves, located in El Retorno, Guaviare. The project mitigates threats posed by the main drivers of deforestation.

As a nominee for this recognition, BIOFIX BIC, as a development partner of these communities, emphasized that the project aligns with SDG 13: Climate Action, as it focuses on increasing and conserving carbon sinks to prevent CO2 emissions into the atmosphere.

Additionally, through the development of this project and the generation and commercialization of carbon credits, climate finance is provided to the proponent communities, enabling them to implement sustainable forest management initiatives, community-based productive projects, income diversification, green businesses, participatory restoration, and other activities that generate social and environmental benefits in the territory.

This project represents a milestone in the development of REDD+ initiatives, as it is implemented under high standards of responsibility and ethics, particularly in terms of safeguards, setting an important precedent for future projects. Moreover, BIOFIX’s guidance has technically strengthened the Indigenous Reserves, raising awareness of the importance of having a professional team to manage the territory sustainably. As a result, the efficient management of resources has led to scholarships for higher education, infrastructure improvements, the development of productive systems, and the strengthening of governance and cultural identity.

This project represents a milestone in the development of REDD+ initiatives, as it is implemented under high standards of responsibility and ethics, particularly in terms of safeguards, setting an important precedent for future similar projects.

Additionally, BIOFIX’s support has technically strengthened the Indigenous Reserve, raising awareness of the importance of having a professional team to sustainably manage the territory. As a result, efficient resource management has led to scholarships for higher education, infrastructure improvements, the development of productive systems, and the strengthening of governance and cultural identity.

This project demonstrates a comprehensive approach aligned with current global challenges, serving as an inspiring example of how forest conservation can generate long-term environmental, social, and economic benefits, ultimately improving the quality of life for the communities involved—a key reason why it received this international recognition.