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TOP STORY
High appetite but fundamental gaps in UK’s nature market structure, says industry coalition
The UK will have a smorgasbord of emerging nature markets in forthcoming years, but concerns persist around the underlying integrity and market infrastructure, according to an industry coalition.
MARKET
UAE royal-owned firm signs partnership with Brazilian environmental assets startup
A company linked to the royal family in Dubai has entered into a strategic partnership to promote a Brazilian startup that issues environmental tokens to landowners encompassing soil, water, biodiversity, and carbon.
Wallacea Trust adds peer review to methodology for biodiversity credits
UK-headquartered non-profit Wallacea Trust has updated its methodology for measuring uplift in biodiversity credits with the inclusion of a peer review process to verify claims.
BUSINESS & FINANCE
Restoring nature in Europe would bring more than 10x in business returns, say researchers
Sustainable finance researchers have estimated huge financial returns for businesses across Europe if they align with the upcoming Nature Restoration Law and called for them to take action to capitalise on opportunities.
Legal opinion finds Australian company directors exposed to nature-related risk
A landmark Australian legal opinion released Thursday has found that company directors who fail to adequately consider, disclose, and manage nature-related risks could be held personally liable.
‘Hyperspectral’ satellite nature impacts company raises €16.6 million
Finnish firm Kuva Space has raised €16.6 million ($17.6 mln) towards its goal of observing the condition of “any material” on the planet through launching 100 satellites by 2030.
Most Dutch financial institution boards fail to prioritise biodiversity, study suggests
The relevance of biodiversity was rated as “moderate” by the average financial institution board in the Netherlands, the Dutch Association of Investors for Sustainable Development (VBDO) said in a study.
TOOLS & GUIDANCE
Non-profits launch platform to guide financials on deforestation-free company portfolios
A group of not-for-profits on Wednesday launched a free platform that gives financials access to comparable data on deforestation in the portfolios of more than 2,000 major companies worldwide.
Researchers to build hive of data from bee projects to drive biodiversity conservation efforts
An Australian university is developing a centralised portal to better fill in knowledge gaps around bee data across underreported jurisdictions like Asia and Africa, a move expected to aid in data collection and conservation efforts.
European venture firm releases biodiversity impact measurement approach
A Berlin-based venture capital firm has released its approach to assessing biodiversity impact, although there are gaps in the methodology with some major drivers of biodiversity loss not addressed.
MARKET
Garden of Eden – The UK’s Eden Project has unveiled a new company that aims to create wildflower-rich grassland across the UK. The Eden Project Wildflower Bank will sell units to England’s mandatory biodiversity net gain market, due to kick off in Jan. 2024. The new company plans to manage dedicated areas of land for 30 years. It will also create a series of “seed hubs” across the country to support nature recovery. (Business Live)
BUSINESS & FINANCE
Funds sorted – Fiji’s environment ministry, in collaboration with Conservation International, has secured a $7.2 mln grant from the Global Environment Facility. This five-year funding is earmarked to safeguard Fiji’s diverse land and marine ecosystems. The grant will support Fiji’s goal of designating 30% of its Exclusive Economic Zone as marine protected areas and preserving key biodiversity areas on land, aligning with its national biodiversity strategy. (FBC News)
Framework – Zambia’s central bank has recently published rules for a green loan mechanism that eases the process of getting funding for environmentally friendly projects, such as renewable energy facilities or biodiversity conservation and restoration. According to the Biodiversity Finance Initiative (BIOFIN), the rules have been formulated to provide small- and medium-sized enterprises with flexible access. Bank of Zambia will now start the work of implementing the new scheme, which BIOFIN said it would help with.
POLICY
Supercharged NBS – Brazil’s path to achieving net zero emissions by 2050 could be jeopardised unless the country significantly ramps up its nature-based solutions (NBS), particularly ending deforestation and restoring native vegetation, a new study warns. The research, led by the University of Oxford and published in the journal Global Change Biology on Tuesday, found that NBS could mitigate nearly 80% of Brazil’s net zero pledge and that halting deforestation is the single most important measure Brazil can take towards this goal. (Carbon Pulse)
Baltic conditions – A new report said the Baltic Sea faces critical challenges due to the climate crisis and degradation of biodiversity. Reductions in nutrient inputs and hazardous substances as well as targeted conservation work have seen improvements, as the share of marine protected areas are increasing in some parts of the area. However, reduced ice cover, extreme weather, and eutrophication are causing an overall decline in biodiversity. The report comes as Sweden’s coastguard tries to contain ecological damage from an oil spill after a ferry ran aground three times earlier this week. Due to its geography, the Baltic Sea is particularly susceptible to pollution and changing environmental conditions, which are also affecting the profitability of the fishing and tourism industries in the area, the authors said. (The Guardian)
Water goals – Marine ecosystems are increasingly being addressed by countries in their climate strategies, a report led by research group Ocean & Climate Platform has said. Some 97 out of 148 (61%) nationally determined contributions have included coastal and marine nature-based solutions, it said. “The report illustrates a growing acknowledgment of the co-benefits of coastal and marine nature-based solutions, encompassing climate, biodiversity and socioeconomic advantages,” it said.
Species introduction – UK conservationists have written to the government expressing concern about it not prioritising the reintroduction of species. 15 people, including members of an International Union for Conservation of Nature working group and Friends of the Earth, said the government misunderstood the scale of reaching its biodiversity targets, with an “alarming lack of ambition”.
SCIENCE & TECH
Finding Coral – Scientists have discovered two pristine coral reef systems in the waters around the Galapagos Islands, Ecuador. The reefs span 800 m and 250 m each and, at depths of 370 m to 420 m, support a rich diversity of stony coral species, scientists said. The expedition applied laser scans to produce high-resolution maps of the reefs during a month-long data collection phase involving 13 international NGOs and universities. Two sea mounts were also discovered, which had previously been suspected based on satellite imagery data.
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