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TOP STORY

World Bank issues bond to tackle plastic waste, repaying investors with plastic, carbon credits

The World Bank has issued an outcome bond in partnership with a social enterprise whereby the proceeds will be directed towards reducing and recycling plastic waste, generating plastic and carbon credits to provide a financial return to investors.

BUSINESS & FINANCE

Corporate financial statements may have to tackle biodiversity, lawyer says

Company financial statements may have to include biodiversity issues as part of their sustainability coverage, following the publication of an opinion encouraging directors to address the environment, a UK lawyer has said.

Lack of nature positive awareness could trigger ‘unintentional greenwashing’, expert says

‘Nature positive’ status is emerging as a central ESG target for many businesses worldwide, but they could face greenwashing risks unless they implement a number of best practices, a BP official said Wednesday.

Australian market administrator joins nature positive partnership

An independent environmental markets administrator in Australia has joined a broad partnership that is in the process of bidding for government funding to launch an initiative to drive investments in nature positive carbon, biodiversity, and natural capital initiatives.

TOOLS & GUIDANCE

UNDP releases guidelines for reform of government subsidies harmful to biodiversity

The UN Development Programme (UNDP) has released a new set of guidelines to enable governments to identify and redesign subsidies harmful to biodiversity.

POLICY

Ireland targets society-wide awareness with biodiversity action plan

The Republic of Ireland has said it wants every person in the country to be aware of the importance of biodiversity, as it launches its latest National Biodiversity Action Plan.

UK updates biodiversity gain hierarchy to apply to all habitat types

The UK government has updated the order of preference for how developers handle biodiversity impacts so it applies to all habitat types, rather than only the most distinctive, an expert has said.

MARKET

Putting back together – A Rio de Janeiro-based developer has received R$186.7 mln ($37.8 mln) in financing from Brazil’s national development bank for forest restoration in the country’s Amazon and Atlantic Forest biomes, it announced Wednesday. BNDES, the National Bank for Economic and Social Development, will provide financing to developer re.green for the ecological restoration of degraded areas across 14,800 ha. In the process it expects to remove 4.1 MtCO2e over 25 years, for which it will seek to claim voluntary carbon credits. (Carbon Pulse)

BUSINESS & FINANCE

Finding new ways – The Singapore Sustainable Finance Association launched this week to develop the country’s sustainable finance ecosystem and best practices, facilitate collaboration between financial and non-financial sectors, as well as support the deepening of sustainable finance capabilities. The workplan for its first year includes establishing five work streams focusing on carbon markets, transition finance, blended finance, natural capital and biodiversity, and taxonomy, said the association. Speaking at its launch on the same day, the newly minted managing director of the Monetary Authority of Singapore (MAS), Chia Der Jiun, said the SSFA will be a key platform for the financial sector in that it can combine financing solutions from different asset classes, “not only to those in climate mitigation, but also in financing less-bankable projects related to climate adaptation and biodiversity preservation”. (Business Green)

Coming to market – In Indonesia, venture builder Terratai and organic food producer Javara have announced a strategic partnership aimed at helping smallholder farmers scaling up the sustainable food biodiversity value chain. Through capital contributions and its network, Terratai will help Javara bringing indigenous food products to the global market, the parties announced Thursday.

POLICY

Disturbed seals – Conservationists have been “shocked” by a licensing decision that could disturb seals near Ramsgate in south England. A Marine Management Organisation has granted a marine licence for floating pontoons at a port that will result in more boats, paddleboards and jet skis in the area, Kent Wildlife Trust said. The charity sent a response to the proposals detailing its concerns the pontoon would increase risks to vulnerable birds and seals.

Fighting it – The Aurelia Foundation, which specialises in environmental protection, and Deutsche Umwelthilfe (DUH), are taking legal action against the EU Commission’s decision to renew the approval of the controversial weedkiller glyphosate. On Wednesday evening, the organisations applied to the EU Commission to have the glyphosate approval revoked, the Aurelia Foundation announced. (dpa)

Wider protection – The Queensland state government in Australia this week finalised the purchase of two properties that will be brought under the state’s existing portfolio of protected areas. Tonkoro Station near Longreach and Melrose station near Winton span more than 200,000 ha in total, and contain habitat for rare and critically endangered species, reports the National Tribune. Securing the properties will also help protect the headwaters of a section of the Lake Eyre Basin, one of the last remaining free-flowing arid river systems in the world.

SCIENCE & TECH

Finnish footprints – The biodiversity footprint of the city of Tampere in Finland has been calculated with the University of Jyvaskyla. The result was 557 potentially disappeared fraction of species globally throughout 2021, the researchers concluded. The largest share of the footprint was made up of food procurement (22%), followed by heat consumption (13%), and construction (12%).

Horns of Africa – A team of scientists carried out the world’s first in vitro fertilisation (IVF) rhino pregnancy. Researchers from the Biorescue Consortium announced that a lab-created embryo has been successfully implanted in a southern white rhino, giving new hopes to saving the closely related northern white rhinos from extinction. There are only two northern white rhinos left in the world. Najin and Fatu, both females, are guarded at the Ol Pejeta Conservancy in Kenya. (BBC)

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