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TOP STORY

UK publishes details on mandatory nature positive planning policy, biodiversity credit use

The British government has published a response to its consultation on a nature and biodiversity positivity regulation that will help to inform a final biodiversity plan for land use and development that includes details on how credits can incentivise support for nature protection.

MARKET

Expert warns of the massive risks of the ‘green rush’ to create biodiversity markets

A market expert has urged the Australian government to take its time to develop its nature repair market, warning that other jurisdictions pursuing similar schemes were sleep walking into a “massive greenwashing nightmare”.

Biodiversity will require complete rethink in crediting framework, developers say

The fledgling biodiversity market will need a crediting framework that departs completely from carbon, according to two project developers involved.

Carbon standard releases methodology to address out-of-control algae

Brazil-headquartered SocialCarbon on Friday released a methodology for public consultation that will award carbon credits for dealing with harmful algae blooms in freshwater, its latest in a growing number of carbon methodologies with strong biodiversity components.

Festival partners with biodiversity credit developer in early voluntary market move

Adelaide Festival in South Australia has partnered with developers Wilderlands to give attendees the opportunity to buy voluntary biodiversity credits from a wetlands conservation project, an early example of small-scale community events using the emerging market to help prop up nature protection.

Australian sustainable seafood start-up targets global roll-out, biodiversity credits

A new Australian programme that offers subscription-based investments in fish habitat restoration and assisted breeding hopes to build on its current activities to eventually generate tradeable biodiversity credits.

BUSINESS & FINANCE

Philippines signs carbon, biodiversity MoU with major infrastructure firm

The Philippines’ Department of Environment and Natural Resources (DENR) has signed an MoU with a large domestic infrastructure company to reduce carbon emissions and manage biodiversity through a 1,800-hectare reforestation project.

Global initiative launched to restore 1 mln hectares of kelp forests by 2040

A first global initiative has been launched by marine ecologists in Australia that sets an ambitious target of restoring 1 million hectares of kelp forests by 2040, aiming to reverse the climate change-induced decline of the ecologically valuable seaweed species, it was announced on Sunday.

RESEARCH

Researchers tout plans for Congo Basin to rival Amazon in scientific research

Plans are underway to boost scientific research into the Congo Basin, the second largest rainforest and the most efficient carbon sink in the world, to the same level as the Amazon, a webinar heard Thursday.

BUSINESS & FINANCE

Alpha move — Digital product developer NatureAlpha is collaborating with US finance company MSCI to allow investors to track the biodiversity and nature risks, footprints, and dependencies of their investment, it announced. MSCI will distribute NatureAlpha’s biodiversity data and analytical tools to the global investment community, the company said. The data will cover the full list of constituents of the MSCI ACWI Index, augmenting the existing MSCI offering and helping clients to better identify their exposure to companies, industries and operations that have a higher impact on nature and biodiversity. It will also help clients engage with stakeholders  to better align their activities with global nature and biodiversity frameworks and targets, and provide comprehensive reporting in response to growing regulatory pressures, including the SFDR reporting, and in alignment with the evolution of the TNFD. The two companies have also agreed to work on research projects and explore the potential development of additional methodologies and tools.

POLICY

Global agreement — Delegations from hundreds of countries will meet in New York this week in an attempt to hammer out a new legally binding ocean protection treaty that green groups believe will decide whether efforts to safeguard global biodiversity can succeed, Reuters reports. The talks reconvene parties that failed to reach a consensus on financing at a previous meet in August. Experts familiar with the negotiations said major parties have now moved closer together on key issues as new talks begin, though compromises were still being sought. The success of the talks, scheduled to run until Mar. 3, still “hinge on the finance question”, said Li Shuo, global policy advisor at Greenpeace, and China is set to be a major player in the negotiations, especially when it comes to bringing other developing nations on board. According to Greenpeace, 11 million square kilometres of ocean must be protected every year between now and the end of the decade if a target of protecting 30% of the world’s land and sea by 2030 – known as “30 by 30” – is to be met.

Pull the trigger — The Australian government has announced it will scrutinise energy company Engie’s plan to fill the Hazelwood coal mine in Victoria with almost double Melbourne’s annual water consumption under federal environmental law, known as the water trigger. Advocacy group Environment Victoria said it had been among several groups urging the federal government to thoroughly assess Engie’s plan, including the impacts of using a huge volume of water and risk of groundwater and downstream contamination. The water trigger under Australia’s Environmental Protection and Biodiversity Conservation Act has previously been applied to new coal mine developments and extensions to existing mines. Environment Victoria noted today’s news confirms it also applies to miens being rehabilitated as ‘pit lakes’ and sets an important precedent as coal power stations close across the country in coming years. According to independent expert reports, which found that flooding the mine put without removing the highly toxic pollution stored inside the mine would release this pollution into groundwater and local waterways.

Salmon dance — The Canadian government has announced new actions its taking to protect Pacific salmon, which it said have significant cultural, social, and ecological importance to First Nations and British Columbians, and are in serious long-term decline. Fisheries Minister Joyce Murray announced she would not renew licences for 15 open-net pen Atlantic salmon aquacultures sites in the Discovery Islands. The government noted the Discovery Islands area is a key migratory route for wild Pacific Salmon, where narrow passages bring migrating juvenile salmon into close contract with salmon farms. Recent science indicates that there is uncertainty with respect to the risks posed by Atlantic salmon aquaculture farms to wild Pacific salmon in the Discovery Islands area, as well as to the cumulative effect of any farm-related impacts on this iconic species. There are multiple stressors on wild salmon, including climate change, habitat degradation and destruction, regulated fishing, as well as illegal, unreported, and unregulated fishing. Given the state of wild Pacific salmon, the government said it was taking a highly precautionary approach to manage Atlantic salmon aquaculture in the Discovery Islands area.

No guarantee — Bangladesh is looking to declare the country’s third and largest Ramsar wetland site, however Mongabay reports that its other two designated sites are coming under increasing threat. In December last year, Bangladeshi authorities nominated Hakaluki Haor, the largest marsh wetland ecosystem in South Asia, for Ramsar designation. And while experts have welcomed the move, they warn it won’t do anything to protect the wetland, going by the current state of the Sundarbans and Tanguar Haor. Bangladesh Environmental Lawyers Association chief executive Rizwana Hasan said that the government did nothing to protect the Ramsar sites after they had been declared. However, he said his organisation supported the government move, given that mismanagement get international attention when a site is designated.

Trawling through — The EU Commission has presented an action plan to end bottom trawling, according to the Greens/EFA Group. The “Action Plan for the Conservation of Fisheries Resources and Marine Ecosystems” calls for an end to the use of bottom trawling gear in marine protected areas from 2030. The Greens/EFA urged the commission to present a proposal for EU-wide legislation to end bottom trawling in marine protected areas, saying most people would be horrified that activities like bottom-trawling are currently allowed in marine protected areas. MEP Grace O’Sullivan said the EU and Member States needed to “seriously up their game” in terms of protecting marine ecosystems, and that the commission’s action plan was the first step towards that, but noted that without binding legislation, the status of marine ecosystems would continue to decline.

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