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IPIECA, the International Council on Mining and Metals (ICMM) and the Equator Principles Association formed the Cross Sector Biodiversity Initiative (CSBI) in 2013.

The initiative explores and develops practical tools and shares good practices for the effective application of the mitigation hierarchy, as referenced in the International Finance Corporation (IFC) Performance Standard 6 on biodiversity conservation.

Industry experience is shared through the CSBI in order to encourage learning and continuous improvement. The CSBI has launched a Charter that sets out an agreement between the three associations to provide leadership in developing and sharing good practice related to biodiversity and ecosystem services in the extractive industry. A number of guidance documents have also been developed: The Timeline Tool, Good Practices for the Collection of Biodiversity Baseline Data and A cross-sector guide for implementing the Mitigation Hierarchy.

Although the CSBI has an industry focus, the initiative also engages with external groups with an interest in the mitigation hierarchy and biodiversity offsets. The CSBI welcomes views on key issues from other industry and non-industry groups and input on overall strategic directions for the initiative.