Nature Positive Role of the Mining and Metals Sector

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While “compensation” can be treated as synonymous with “offsetting”, as aligned with IUCN’s approach, in this report “compensation” is a more general term of which biodiversity offsets are just one subset. Compensation may achieve NNL or BNG (in which case it is an offset), but in other cases, compensation can involve reparation that falls short of achieving NNL (and is therefore not an offset). 240. International Union for Conservation of Nature (IUCN). (2016). Issue Brief: Biodiversity Offsets. https://iucn.org/sites/default/files/2022-04/biodiversity_offset_issues_briefs_final_0.pdf. 241. International Union for Conservation of Nature (IUCN). (2023). Nature positive for business. https://portals.iucn.org/library/sites/library/files/documents/2023-023-En.pdf . 242. The Nature Conservancy (TNC). (2015). Achieving Conservation and Development: 10 Principles for Applying the Mitigation Hierarchy. https://www.conservationgateway.org/Documents/TNCApplyingTheMitigationHierarchy.pdf. 243. 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