Africa > COP28: African Development Bank backs own adaptation mechanism over biodiversity credits

COP28: African Development Bank backs own adaptation mechanism over biodiversity credits

Published 13:54 on December 5, 2023  /  Last updated at 13:54 on December 5, 2023  / /  Africa, Biodiversity, EMEA, International

A voluntary biodiversity credit market would come with a number of risks, and nations should instead require corporates to pay towards climate adaptation and nature measures, a representative for the African Development Bank (AfDB) said on the sidelines of COP28 Tuesday, as the bank hopes to get the adaptation mechanism it has pushed for years to get approved at the talks.
A voluntary biodiversity credit market would come with a number of risks, and nations should instead require corporates to pay towards climate adaptation and nature measures, a representative for the African Development Bank (AfDB) said on the sidelines of COP28 Tuesday, as the bank hopes to get the adaptation mechanism it has pushed for years to get approved at the talks.


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