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TOP STORY
Landbanking Group releases consultation paper on new nature asset class
Germany-based tech startup Landbanking Group has released a consultation paper, ahead of a planned launch of a new nature asset class, in a bid to foster investments in ecosystem preservation, restoration, and improvement.
BUSINESS & FINANCE
Major asset manager releases “milestone” TNFD-aligned disclosure
A large investment manager has published its first timberland and agriculture nature disclosure aligned with the Taskforce on Nature-related Financial Disclosure (TNFD) recommendations in an early move set to spark market interest.
UK companies urge government to mandate TNFD reporting
The UK government must take immediate action to support and steer companies in adopting the Taskforce on Nature-related Financial Disclosures (TNFD) recommendations, a membership organisation comprised of some major corporates and NGOs in the country has said.
TOOLS & GUIDANCE
SBTN pilot reveals benefits, challenges of targeting nature
The Science-based Targets Network (SBTN) released a report on Monday highlighting the benefits and challenges experienced by the first cohort of companies when piloting targets for nature.
US-based joint venture boosting open-source software for TNFD disclosures
A US-headquartered joint venture is set to expand access to its software models in a bid to underpin investments in nature capital and corporate assessments under the Taskforce on Nature-related Financial Disclosures (TNFD) framework, its co-founder has said.
POLICY
Key Biodiversity Area criteria must be robust to meet global targets, study shows
Robust criteria must be applied to identify areas of importance for biodiversity under the Kunming-Montreal Global Biodiversity Framework (GBF), as the lack of a clear definition could undermine nature recovery efforts, a study has warned.
PREVIEW: Bern conference seeks to boost cooperation on global biodiversity targets
New recommendations on how to enhance cooperation between biodiversity-related conventions are expected at the Bern III Conference, which will take place over Jan. 23-25, in a bid to boost the implementation of the Kunming-Montreal Global Biodiversity Framework (GBF).
Palau sparks marine protection optimism with high seas treaty ratification
The Pacific Island nation of Palau has ratified the UN’s Biodiversity Beyond National Jurisdictions (BBNJ) treaty, sparking optimism that sufficient momentum can build for the treaty to enter into force, making it possible for the global community to protect vast tracts of the world’s oceans.
MARKET
Cleared for take-off – The Biodiversity Net Gain (BNG) scheme in the UK will go live on Feb. 12, the government confirmed in a blog post. It was originally meant to launch late last year, but was delayed, sparking concerns that market participants might lose confidence in the programme before it had even begun. The BNG will impose a requirement for land developers to deliver a gain of at least 10% associated with their projects, with the options to buy credits if they fail to do so.
Simple credits – UK developers could involve statutory biodiversity credits intended for ‘last resort’ usage under the BNG scheme “much more than the intention is”, an industry actor told trade magazine Inside Housing. Mark Turner, planning, environmental, energy and regulatory partner at Aaron & Partners, said: “Developers will at least try to use those more than has been intended. They may be seen as a simpler, perhaps swifter, option.” The government is trying to stop abuse of credits through a mandatory order of preference of actions to limit nature impacts for developers.
Scale – A UK farmer cooperative is using the power of scale and a collective voice to fetch a fairer price for its members in the carbon and biodiversity markets. The Environmental Farmers Group aims to amalgamate farmland in England to achieve landscape-scale change and have greater influence over buyers of natural capital services, such as those active in the carbon, biodiversity net gain, and nutrient neutrality markets. (Carbon Pulse)
Sounding out – French nature tech firm Green Praxis has become the latest to join the Biodiversity Credit Alliance forum, it announced in a LinkedIn post. The Marseille-based firm is using bioacoustics to industrialise biodiversity monitoring. It will work with BCA and other forum members to standardise methodologies for using bioacoustics to underpin biodiversity credits.
BUSINESS & FINANCE
Early move – Six companies took part in a programme to pilot the Taskforce on Nature-related Financial Disclosures (TNFD) recommendations, run by not-for-profit Global Canopy prior to the framework launch. AECOM, Grupo SURA, IndusInd Bank, JGP Asset Management, Private Infrastructure Development Group, and Tesco assessed their nature-related risks and opportunities using the TNFD’s Locate, Evaluate, Assess, Prepare (LEAP) approach.
Washed up – Communities along the coast of northern Spain fear an environmental disaster as millions of tiny plastic pellets wash ashore after falling from a ship, the BBC reports. More than 1,000 sacks of pellets, known as nurdles, are believed to have fallen from the Toconao, operated by Danish company Maersk, on Dec. 8. Hundreds of volunteers have been working to clean up the spill in the northwest Galicia region. The alarm has also been raised on the Asturias coast, further east. As many as six containers are believed to have fallen from the Liberian-flagged Toconao some 80 km west of Viana do Castelo in northern Portugal. Of these, one contained at least 2.6 tonnes of pellets, while the others were carrying goods such as clingfilm, tyres, and tomato sauce.
POLICY
Logistics check – CBD Executive Secretary David Cooper arrived in Colombia this week to go through logistics requirements ahead of COP16 in October. The Colombian environment ministry said in a statement that six cities so far have expressed interest in hosting the event, and their ability to do so will be assessed after meetings with Cooper. Some 12,000 people are expected to attend the event, far fewer than the 70,000 that participated at the climate COP28 in Dubai in December. “Peace with nature” has been made the theme of the COP, the ministry said.
Teaming up – The US Forest Service and Indonesia’s environment and forestry ministry on Tuesday signed an MoU to cooperate on the implementation of Indonesia’s Net Sink 2030 plan, which stipulates that the country shall no longer contribute to GHG emissions from deforestation by that year. The two will work collaboratively on sustainable forest management, forest carbon governance, forest and land fire control, as well as education and training, they announced. The MoU is expected to pave the way for more robust and effective forest management practices in Indonesia, contributing to global efforts to mitigate climate change and enhance biodiversity conservation, they said.
Plastic action – Colombia has become the latest country to sign up to the Partnership for Global Action on Plastics after agreeing details with the World Economic Forum in Davos last week. The government will use the membership as a foundation to develop a national action plan on plastics, the environment ministry said.
SCIENCE & TECH
Wrong kind of record – More plants, animals and habitats were added to the national list of threatened Australian wildlife in 2023 than in any year since the list was established, according to analysis by the Australian Conservation Foundation. A total of 144 animals, plants and ecological communities were added to the list, five times more than the yearly average and double the previous record year (2009), the Guardian reports.
Resurfaced – The leopard barbel fish – feared to have become extinct – has been sighted in the Tigris River, in Turkey. The discovery was made by a team of scientists from Recep Tayyip Erdogan University and members of the Re:wild and SHOAL programmes. Once widespread in the rivers of Turkey, Syria, Iran, and Iraq, the leopard barbel fish is endangered due to increasing pollution and the construction of dams. Before this week’s discovery, it was last spotted in the wild a decade ago. (Jiji Press)
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