1756 The KPIs used for the Monitoring Biodiversity Program are directly connected with the TNFD and PS6 IFC framework. In the last 20 years the PMB has being innovating in technology, the tools and the approach to providing the most suitable information for the investors of Camisea Project. The camera traps and acoustic sensors were first implemented in Camisea and are part of the continuous improvement in the project to collect data that would have a major impact when putting in value the effort and the investment that the company is implementing. There is dynamic and adaptive monitoring that supports Camisea PMB as a "real-world" example of a project already operating at these high standards. For instance, the report shows that the Camisea Project represents only 3.6% of the regional footprint, while the company is actively restoring its operational areas (reducing the Malvinas plant footprint to 208.3 ha) aligning with the ICMM "Landscape-Scale Action" and "Net Gain" goals coincidentally. 6. CONCLUSIONS AND IMPLICATIONS FOR INDUSTRY This proposal is based on the Biodiversity Monitoring Program of Camisea Project, with more than 20 years in the Amazon area having success and acceptance among the local communities and authorities. I am taking key aspects of this experience and connecting them with emergent requirements regarding nature in the mining industry and double materiality. I propose to strategically use biodiversity monitoring to share, with local communities and authorities, the potential that nature and biodiversity represent for their wellbeing, and consequently, for the value and sustainability of an eventual/prospectus project in the area, from the very beginning. Connecting biodiversity and water with local communities and authorities strengthens the participatory process surrounding extractive projects. Local communities value their environment for their livelihoods and resources; however, they are sometimes unable to recognize and value ecosystem services or their contribution to their well-being, as the (economic) activities related to extractive projects can overshadow the benefits of combining extractive resource management with generating a positive impact on nature. Therefore, new mining/extractive projects should contribute to the revaluation of biodiversity and nature in their area of impact. By promoting these actions, local authorities and governments would demonstrate a genuine interest in promoting development and environmental and social responsibility. A strategic biodiversity management system would consist in combining the biological scientifical approach, with high standards for monitoring the evolution of the biodiversity around the project, and social innovation considering Biodiversity Actions Plans when identifying opportunities and preventing potential damage and engaging local communities. The result of this monitoring needs to be shared with the local institutions to be part of the territorial planning, providing critical information for decision making and looking forward to valuing the positive nature legacy. The disclosure of information is directly complementary to supporting TNFD to provide information related to the interdependence between business and nature, which is an increasing interest for investors and funding institutions. Based on empirical evidence from Kölbel & Lambillon (2023), the implementation of the PMB in the mining industry is expected to generate measurable financial optimization. Specifically, by aligning the PMB's KPIs with Sustainability-Linked Loan structures, the project could capture a margin reduction of between 5 and 15 basis points, which, on a USD 500 million loan, represents annual operating savings of up to USD 750,000 in debt service. Furthermore, the robustness of the biodiversity data acts as a derisking factor, reducing the likelihood of financial penalties (step-ups) for non-compliance with ESG targets. Our strong suggestion is that by using a adaptive monitoring system such as PMB reduces the probability of financial over cost, acting as insurance face potential interest rate volatility. Different regions might benefit from this triple view approach, involving local communities, investors and natural capital/biodiversity as a step forward from derisking. It would not only identify the characteristics of the biodiversity in the territory, but also it would support a comprehensive local engagement, from users (communities) to administrators (authorities) of the natural resources. Furthermore, the experience would increase the value of the territory and make it attractive to potential investments, cofounding from the private sector, multilaterals and others. Recognizing the value of biodiversity in the territory is part of a nature positive strategy, engaging with stakeholders gives the opportunity for planning
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