Presenting Biodiversity Pulse Weekly, Carbon Pulse’s free newsletter on the biodiversity market. It’s a weekly summary of our news plus bite-sized updates from around the world. Subscribe here

All articles in this edition are free to read (no subscription required).

TOP STORY

France announces €100 mln for global forest protection mechanism

French President Emmanuel Macron has announced funding for a new forest protection scheme that will use scientific evidence to compensate countries via biodiversity certificates that are proven to have protected or restored their natural resources, aiming to resolve what he called an “absurd” current shortfall in funding to forest-rich nations offered by carbon crediting.

MARKET

ANALYSIS: All sources of demand welcome to help build biodiversity market –experts

Leveraging demand from regulatory compliance may be key to building a robust market for biodiversity credits, some experts have said, pointing towards the potential for a softening divide between voluntary- and compliance-driven approaches.

Stakeholders cautiously welcome Australia’s proposed nature repair market, but litany of concerns remain

Feedback on the Australian government’s nature repair market draft legislation has highlighted the proposal’s current lack of detail, calling for greater clarity on key areas, while some are concerned about the potential for perverse outcomes, particularly in jurisdictions where conservation laws are lacking.

Carbon credit ratings agency eyes role in biodiversity market

Independent ratings could drive higher-quality biodiversity credits and contribute to greater transparency in the fledgling market, carbon credit ratings agency BeZero said in a research note.

BUSINESS & FINANCE

On track for initial goals, $1-bln conservation fund launches incubation offshoot

The Rimba Collective is on course to deliver $1 billion for private sector-enabled forest protection and restoration to more than 500,000 hectares in Southeast Asia and is launching an incubation vehicle to kickstart projects to go beyond that, a conference heard this week.

Impact fund, Kenyan bank team up to drive biodiversity, climate friendly agriculture in sub-Saharan Africa

Luxembourg-based eco.business Fund and Kenya’s Absa Bank have signed a $10-million financing deal for sustainable agriculture in the East African country, with a view to expanding their cooperation across the sub-Saharan region.

POLICY

Nations strike crucial ocean protection agreement

After a 36-hour marathon session to conclude negotiations in New York, UN member states on Saturday evening agreed to a treaty that will pave the way for protecting 30% of the world’s oceans.

Panama, EU announce major ocean protection commitments

At the Our Ocean Conference in Panama last week, the host government announced it is expanding its marine protected areas to cover more than half the nation’s oceans, while the EU said it will spend €816.5 million this year for various ocean protection initiatives, with others such as the US and UK also reiterating funding pledges.

MARKET

Bigging up forest restoration – The government of Cote d’Ivoire has signed an MOU with Dutch carbon developer DGB Group and local forestry firm AGRO-MAP to explore the development of reforestation carbon credit projects in the country. The parties will carry out a feasibility study on the creation of forest plantations in classified forests with a view to generating carbon credits, and collaborate on forest protection, restoration, and conservation. (Carbon Pulse)

Next stop: Guatemala – Carbon offset registry Climate Action Reserve has announced it will commence development of a forest carbon protocol specific to Guatemala, continuing the US-based standard’s trend of country-specific endeavours. Environmental consultancies MexiCO2 and Istmo Verde provided partial funding and technical support for the development of the Guatemala forest protocol, which will credit activities that sequester CO2 through increasing carbon stocks in tress over time. (Carbon Pulse)

List of things to do – In Australia’s New South Wales, the Labor party has promised to fix the state’s “broken” environmental offsets system if it wins government in March, saying current policies are causing decline of endangered ecosystems instead of avoiding more damage. The party’s environment spokesperson said the current system had “no red lines” and a Labor government would use a five-yearly review of the state’s environmental laws, due to report in August, to deliver changes within the first 18 months of government. (Guardian)

BUSINESS & FINANCE

Getting involved – Wealth management firm Investec has joined the Partnership for Biodiversity Accounting Financials (PBAF), it announced this week. The Johannesburg- and London-listed company said in a statement it chose to join the group because it has the platform and tools needed to monitor and assess biodiversity factors across its business. PBAF is developing the PBAF Standard, which enables financial institutions to assess and disclose impact and dependencies on biodiversity of loans and investments.

Live to fight another day – In Canada, the Island Trust Conservancy has received a C$660,000 funding boost to address biodiversity loss in the Island Trust area. The money, from the federal government via Environment and Climate Change Canada, will ensure the conservancy’s species-at-risk programme can continue over the next three years. The programme launched in 2021 with a three-year grant of C$643,000 from the Canada Nature Fund’s species-at-risk stream. (Ladysmith Chemainus Chronicle)

POLICY

Expanding – Indonesia’s Environment and Forestry Ministry (KLHK) continues to strengthen its commitment to sustainable development through biodiversity conservation, forest management, and waste control, as well as by addressing global climate change and environmental damage, according to Antara News. KLHK’s Director General of Forest Management Agus Justianto noted in a statement that his administration pursues the commitment and responsibility of sustainable development for the well-being of humanity. The government plans to separate its forest use in two, with 12.7 mln ha to be used for social forestry and 4.1 mln ha for agrarian land reform. In addition, it will pursue a moratorium for over 66 mln ha of primary forest and peatlands, restoration and water management for 3.4 mln ha of peatlands, river, and mangrove rehabilitation.

Helpful corridor – Chile launched a programme on Monday to protect the huemul, an endangered southern deer, by creating a biological corridor that includes an area recently donated by the family of the late philanthropist and founder of the North Face, Douglas Tompkins. The Rewilding Chile Foundation, Tompkins’ legacy, along with Chile’s Ministry of Agriculture, said that the “Huemul National Corridor” will be made up of approximately 16 connected, state-protected areas alongside other private conservation initiatives. (Reuters)

SCIENCE & TECH

Outnumbered – More than half of the UK and Ireland’s native plants are in decline – and invasive species now outnumber native flora. These are the stark conclusions of a 20-year research project published in Plant Atlas this week, reports Euronews. The report paints a bleak picture of how climate change is decimating local ecosystems in both countries. According to the Botanical Society of Britain and Ireland (BSBI), 53% of native plants and 62% of ancient introductions have declined since the 1950s. In contrast, 58% of modern introductions have increased.

Got a tip? How about some feedback? Email us at news@carbon-pulse.com