Ecological Ensurance, by BASIN, ensures that the RealValue of Natural Capital is protected and stewarded in perpetuity.
The BASIN Ensurance Binder acts as a central hub for both potential and active ecological protection and restoration agreements. The Binder features two main elements: Slips and Policies.
Slips detail ecological polygons (EPs) identified for Ensurance. These are unique ecosystems or legally defined properties poised for ecological coverage under the RealValue of Natural Capital framework. In Slip status, stakeholders can buy Certificates of Ensurance for broad ecological contributions, including ecosystems, bioregions, and specific species. Direct ensurance of a polygon becomes possible once transitioned to Policy status.
Transitioning from a Slip to an Ensurance Policy occurs when an EP is underwritten by an Ensurer. This marks a formal commitment, enabling the issue of Certificates of Ensurance specific to the property, solidifying the dedication to safeguard the RealValue of Natural Capital based on the ecological polygon.
For details about how Ecological Ensurance is issued as part of the BASIN Protocol and FAQs, visit the BASIN Field Guide.