Malua BioBank

The Malua BioBank is a revolutionary model for rainforest conservation that seeks to rehabilitate and preserve 34,000 hectares (80,000 acres) of critical habitat for orangutan and other wildlife. Located in Malaysia on the island of Borneo, the Malua BioBank was created in an innovative public-private partnership with the Sabah State Government as an investment in the rehabilitation and protection of the Malua Forest Reserve. This pioneering initiative was launched in August 2008 and seeks to deliver on the premise that conservation of biodiversity and ecosystem services has value that can compete with other commercial land uses, such as logging and agribusiness. The Malua BioBank sells Biodiversity Conservation Certificates, with each certificate representing 100-square meters of restoration and protection of the Malua Forest.

In order to ensure reliable, long-term forest stewardship, the Sabah Government has committed to halt logging in the Malua Forest for a period of at least 50 years. During this time, the Malua BioBank Conservation Management Plan will be implemented in order to improve wildlife habitat and promote ecosystem service functions, such as carbon sequestration and storage in Malua's growing forest. The Malua Trust, an endowment managed by HSBC Trustees, will oversee and finance the conservation management of the Malua Forest into the future. Learn more about the Conservation Activities underway at the Malua BioBank. 

 When Datuk Musa witnessed the signing of an agreement between the State Forestry Department and New Forests Private Limited to set up the Malua BioBank in Kota Kinabalu on 14 August 2008, he described it as a firm step towards conserving the natural heritage and a “win-win” move. He said the establishment of the Malua Wildlife Habitat Conservation Bank (Malua BioBank) would yield multiple benefits.

“What we have witnessed is a loud statement that we are extremely serious with conservation of the forests including the natural habitat for wildlife,” he said.

He considered the event as significant because according to him it was to protect a sizeable area of the state’s rich biodiversity, reputed to be one of the most beautiful on earth. The Chief Minister added that it was recognised that the only way to have meaningful conservation is through “habitat conservation”, referring in this case to the 34,000-hectare conservation area of Malua BioBank.

Elsewhere, the Malaysian conglomerate, Sime Darby would also work closely with the Forestry Department with which it has agreed in principle to fund a RM25 million orang utan rehabilitation project.

The Chief Minister also said that Yayasan Sabah, through its timber-operating arm Rakyat Berjaya Sdn. Bhd. had similarly voluntarily ceased logging operations in the Malua Forest Reserve at the end of 2007.

Source: http://www.maluabank.com/

Picture source: http://www.life-size-media.com/blog