FAQ - Tebu
1Can I obtain tax benefits by contributing to biodiversity conservation through the purchase of Tebu (Terrasos Biodiversity Units)?
At present, it is not possible to obtain tax benefits through the purchase of biodiversity credits. We are working with local and national environmental and tax authorities to develop public policies that will allow this in the future. For more information, please review article 255 of the Tax Statute.
2Do companies acquiring voluntary biodiversity credits or Tebu have to follow the mitigation hierarchy strategy to reduce their impact?
Companies and individuals that contribute to biodiversity through Tebu may or may not follow the mitigation hierarchy, depending on their economic activity, projects and processes. When a company applies the mitigation hierarchy and still needs to offset its negative impacts, Tebys are not an adequate mechanism. In this case, it should evaluate the possibility of acquiring quotas in the Habitat Banks or other compensation alternatives established in the Biotic Component Compensation Manual.
3Who are the developers of conservation projects that issue Voluntary Biodiversity Credits or Tebu?
A) Project Owner: Refers to the owner of the project issuing Tebu. Project owners must demonstrate that they have the legal right to control and operate the project activities. The Project Operator must demonstrate ownership of or eligibility to receive potential credits by meeting at least one of the following requirements:
• Own the land and potential credits where the Project is located;
• Possess an easement, right of use, or equivalent ownership interest;
• Have a written and signed agreement from the landowner(s).
B. Structurers of Conservation Projects: Any organization, NGO or community with the capacity to structure preservation and restoration projects can use this Protocol for the quantification and issuance of VBCs. In addition, it should follow the Protocol's recommendations on monitoring, reporting and verification of credits. This seeks to increase the likelihood of obtaining public and private resources from investors and clients interested in exceptional projects that guarantee biodiversity results.
• Own the land and potential credits where the Project is located;
• Possess an easement, right of use, or equivalent ownership interest;
• Have a written and signed agreement from the landowner(s).
B. Structurers of Conservation Projects: Any organization, NGO or community with the capacity to structure preservation and restoration projects can use this Protocol for the quantification and issuance of VBCs. In addition, it should follow the Protocol's recommendations on monitoring, reporting and verification of credits. This seeks to increase the likelihood of obtaining public and private resources from investors and clients interested in exceptional projects that guarantee biodiversity results.
4Can conservation projects that issue Biodiversity or Tebu Credits sell other types of environmental assets (e.g. carbon credits)?
The Protocol seeks to create conditions to mobilize public and private environmental investments in exceptional conservation projects through the sale of credits as a transactional unit. These projects must adopt conservation measures in areas of great ecological value, and be managed with financial, legal and technical guarantees that ensure the generation of environmental, social and economic value in the territories.
Given the above, Tebu is an alternative for projects that cannot access other financing mechanisms. The Protocol and Terrasos discourage the overlapping of different environmental assets in the same area. This aligns with the principles of additionality, traceability and transparency established by the Protocol and the Ministry of Environment guidelines. According to these guidelines, the overlapping of environmental offsets and the issuance of carbon credits in the same geographical and temporal unit is not allowed.
Given the above, Tebu is an alternative for projects that cannot access other financing mechanisms. The Protocol and Terrasos discourage the overlapping of different environmental assets in the same area. This aligns with the principles of additionality, traceability and transparency established by the Protocol and the Ministry of Environment guidelines. According to these guidelines, the overlapping of environmental offsets and the issuance of carbon credits in the same geographical and temporal unit is not allowed.
5How to access the registration platform?
In the registration platform you can visualize the projects, the units and the accounting table. Visit the following URL: https://biotrust.com.co