Colombia-based credit standard Cercarbono has released for public consultation a methodology that will allow project developers to earn Voluntary Biodiversity Credits (VBCs) for the protection of ecosystem indicator species.

The Indicator Species Biodiversity Methodology (ISBM) was developed by US-based Savimbo – which in October said it had reached an agreement with Cercarbono on its jaguar protection initiatives in the Colombian Amazon – along with Indigenous Peoples and local communities (IPLCs) it has been working with in the Colombian Amazon.

“This methodology will be a crucial component of the biodiversity programme currently under development by Cercarbono,” the standard said in an announcement this week, referring to its broad VBC certification and crediting scheme released for consultation earlier this month.

Savimbo’s ISBM is built around the conservation of so-called indicator species – certain species that can only live and thrive in an area if the ecosystem is healthy.

Its own projects have largely been focused on jaguars, but the methodology is open to other indicator species in any ecosystem type anywhere in the world, with documents saying some 20-30 species in each bioregion can be selected.

“The methodology outlined in this paper may seem overly simplified to those accustomed to Western ways of thinking about science and measurement, and it may be replaced over time by more complex methodologies,” the ISBM document said.

“However, its simplicity is backed by current understandings of complexity theory, ecological science, and indigenous knowledge. Most importantly, it offers an immediate and scalable response to the urgent problem of biodiversity loss, optimising public data to leverage immediate action in the ecosystems most under threat.”

APPROACH

Earning credits under the methodology will require documenting the presence of the indicator species in a defined area every two months through non-invasive means such as video, photos, or sound recordings, usually handled by IPLC stewards of the land involved.

The methodology makes no attempt to measure total biodiversity improvements in the project area, but only proves that the measures taken under the projects lead to successful ecosystem conservation as shown by the presence of the indicator species.

Crediting under the methodology is aligned with that of Cercarbono’s broader framework, and is based on area, ecosystem value, and ecosystem integrity changes over time.

The basic area metric is one hectare, and the ecosystem value is defined as per international classifications, where projects in the most biodiversity rich and threatened regions can earn platinum credits, with gold, silver, and bronze credits available to projects in gradually less diverse and at-risk locations.

In terms of time, each credit represents two months, meaning each hectare in the project can earn a maximum six credits annually.

Savimbo CEO Drea Burbank has previously explained to Carbon Pulse that this approach was chosen because buyers of its pre-certification units have indicated they prefer to pay $5 for a biodiversity credit covering two months over $30 for a full year given the former’s proximity to price levels in the voluntary carbon market.

Other key elements of the ISBM are:

• A project’s crediting start date can be retroactive by as much as five years if the developer can document results, alignment with additionality criteria, and the overall principles in Cercarbono’s framework
• Project contracts should last a minimum of 30 years, but can be cancelled after one
• Baselines must be reassessed every five years, which is also the maximum time that can pass between successful verifications
• The methodology is designed to be stacked or bundled with other environmental credit types, for example soil, water, or carbon, as long as additionality criteria are met

As well, the methodology is only meant for use in countries that are parties to the UN Convention on Biological Diversity (CBD), meaning projects in the US would be deemed ineligible to earn VBCs alongside any in Andorra, South Sudan, and the Vatican.

Activities must be consistent with the biodiversity goals of the host country as laid out in its National Biodiversity Strategy and Action Plan (NBSAP) under the CBD’s Global Biodiversity Framework.

However, whether the project directly contributes to the goals in the NBSAP or addresses ecosystems outside the NBSAP, accounting will not impact its ability to earn VBCs, the methodology said.

VBCs from this methodology cannot be used for offsetting purposes, the document stressed.

Savimbo’s own projects are mostly located in Colombia, which will host the CBD COP16 in October next year.

However, according to the methodology document, adoption of the methodology is currently being considered by IPLC groups in Ecuador, Peru, Brazil, Suriname, Mexico, Panama, Bolivia, Guatemala, Fiji, Papua New Guinea, Indonesia, the Philippines, Gabon, Kenya, South Africa, Uganda, Australia, New Zealand, the US, and Canada.

Brazilian firm Ecosystem Regeneration Associates (ERA) in June published another indicator species methodology for consultation through environmental trading platform Regen Network, also based on jaguars.

Regen earlier this month initiated a discussion within its community on whether to begin listing ERA’s credits along with biodiversity credits from Colombian developer Terrasos.

Cercarbono will close the public consultation for Savimbo’s ISBM on Jan. 25.

By Stian Reklev – stian@carbon-pulse.com

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