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TOP STORY
Over one-quarter of biodiversity net gain units at risk of non-compliance, says new study
The UK’s flagship nature market, soon to be mandatory for developers in England, has major gaps in onsite governance with enforcement nearly impossible for a large proportion of the biodiversity units to be generated, a new academic study suggests.
MARKET
Biodiversity project developer eyes carbon exchange listings after Cercarbono deal
A company developing biodiversity credits in South America is in the closing stages of having its project methodology approved by standard body Cercarbono, after which it hopes to have its credits listed on two carbon trading platforms before the end of the year.
INTERVIEW: Peer review process can bring scientific credibility to the early biodiversity credit market, says new initiative
UK-based Biodiversity Futures Initiative (BFI) aims to provide scientific robustness to biodiversity credit projects and certifications, so buyers have confidence in outcomes and the projects have a greater impact on nature.
INTERVIEW: Indian startup bets on plastic credits market despite challenges
A recently launched environmental commodities asset management firm in India says the emerging market for plastic credits holds great promise for the South Asian nation, despite regulatory developments restricting market potential.
Global market for biodiversity credits unlikely, developer executive says
Biodiversity credits have a slim chance of becoming a global market larger than the voluntary carbon markets, according to an executive at a global carbon and biodiversity credit firm.
BUSINESS & FINANCE
African biodiversity accelerator ‘really disappointed’ by financial viability of applicants
Those behind a programme for supporting biodiversity-related initiatives located in African countries are disappointed with the financial viability of applications received so far, one of its leads has said.
Biodiversity credits, collectives could encourage sustainable land-use change in NZ -report
A New Zealand study has found that a biodiversity market could be a viable, credible solution to encouraging farmers and landholders to making their business climate resilient and meeting environmental expectations, compared to traditional debt funding models.
BUSINESS & FINANCE
Deforestation fund quadruples – The Responsible Commodities Facility Cerrado fund has grown reached $47 million following a collective investment of $36 million from Santander Brasil, Rabobank, and impact fund Agri3. The blended finance fund, launched in August 2022, offers low-interest loans to farmers in the Cerrado region in South America who commit to conserving native vegetation. Initial investors were Tesco, Sainsbury’s and Waitrose.
Fears – Investors from Argentina and the Netherlands have spent the past several years trying to bring Mennonite farming communities to Suriname from Belize, Mexico and Bolivia. Mennonite farmers have faced criticism for clearing thousands of hectares of forest across Latin America, often in protected areas and Indigenous territories. The company behind the project is called Terra Invest Suriname & Guyana, and plans to purchase as much as 30,000 hectares (about 74,000 acres) for approximately 1,000 Mennonite families. (Mongabay)
Planting partners – In Uganda, the Buganda Kingdom has partnered with the Uganda Biodiversity Fund (UBF) to start a large-scale initiative to grow indigenous trees. The five-year Ekibira kya Kabaka project is part of broader efforts to restore Uganda’s biodiversity and combat climate change, and will be supported by WWF, Absa Bank, Crown Beverages Co., the Rotary Fraternity, and several schools. (Monitor)
Marine money – 12 ocean-focused startups have received investment from Nordic impact investor Katapult, with investments ranging from €150,000-500,000. Katapult’s ocean investment team aims to invest €25 mln in 40 early-stage companies from a pipeline of 1,800 investments. The fund has already invested in companies across themes including seaweed farming company, microplastics capture, and ocean-based carbon sequestration. One of the 12 investments, Bahamas-based Coral Vita, is the first entity to use a commercial land-based coral farming model to scale reef restoration, the investment firm said. (Impact investor)
POLICY
Ahead of time – Under the leadership of Prime Minister Antonio Costa, Portugal is charting an ambitious course in marine conservation, aiming to fast-track its target of creating 30% of protected marine areas by 2026, four years earlier than initially planned, reports BNN. This accelerated timeline underscores Portugal’s commitment to the blue economy and its intent to remain a key player in this sector. The announcement is a clear indication of Portugal’s strategic focus on the blue economy and its potential for sustainable growth. Costa highlighted the global potential of the blue economy and the benefits of sustainable investments in this sector. The blue economy, he stated, is not just about exploiting the resources of the sea, but also about harnessing its potential to drive innovation, create jobs, and improve livelihoods while preserving marine ecosystems.
Just coasting – The Australian federal government on Friday announced a new A$15 mln programme to restore coastal habitat in the Great Barrier Reef. The programme will rehabilitate and restore blue carbon ecosystems, including seagrasses, mangroves, salt marshes, and wetlands, and is expected to help improve water quality and habitat for species such as dugongs and marine turtles.
Kiwi seas – The New Zealand government on Friday announced six new marine reserves, all located around the South Island, to increase protected marine areas by two-thirds. The move is part of the government’s efforts to comply with its 30×30 target, and involves the protection of habitats of hoiho/yellow-eyed penguin, toroa/northern royal albatross, pakake/New Zealand sea lion, as well as brittle stars, squat lobster, koura, shrimps, crabs, sponges, sea squirts, reef fishes, and others.
Getting ready – The Indian state of Telangana has finalised and published its Biodiversity Strategy and Action Plan for 2023-30, as the local government is preparing to meet requirements under the Global Biodiversity Framework. Spread over 12 chapters, the plan addresses various components of biodiversity, key factors that affect biodiversity, and methodologies to combat the loss of biodiversity in the state. The plan outlines the efforts to be taken in developing more resource-sharing mechanisms to help optimise the use of bioresources, reports the New Indian Express.
Asking questions – As the EU is nearing a vote on whether to renew the licence for controversial pesticide ingredient glyphosate, the New Zealand Environmental Law Initiative (ELI) has asked the EPA to reassess its approval of it. There is significant new information about its negative impacts, according to ELI, and the EPA has now published information about the process that must be carried out in order to make a reassessment.
SCIENCE & TECH
Measured? – In the high-stakes world of forest carbon markets, robust MRV has long been the cornerstone of perceived accuracy and integrity, but new research calls into question the very possibility of achieving reliable measurements in the sector. Mounting scientific evidence suggests that many forest landscapes are subject to “deep uncertainty”, such that claims of high accuracy in assessing CO2 levels from changes in tree cover and biomass are likely to remain inherently contestable regardless of the technology or methodology deployed, according to an academic article published in Science. (Carbon Pulse)
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