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TOP STORY

UK biodiversity net gain could “incentivise” building in nature recovery areas

The UK government could encourage developments in areas intended for nature recovery through changes to its biodiversity net gain (BNG) metric, though ecosystems may not lose out, market onlookers have said.

MARKET

Japanese firms partner to develop TNFD-aligned voluntary biodiversity credits

A Tokyo-headquartered asset management firm has teamed up with a tech company to create voluntary credits aligned with the Taskforce on Nature-based Financial Disclosure’s reporting framework, focusing on Japan at first but eyeing international expansion later.

Australian developer to design NRM methodology for wildlife sanctuaries

A project developer is planning to draw up a methodology for wildlife sanctuaries under Australia’s Nature Repair Market (NRM), hoping to earn voluntary biodiversity credits to fund the protection of rare and threatened species.

BUSINESS & FINANCE

INTERVIEW: SBTN delays first validation till mid-year, urges ambition amid broad interest from industry

The Science Based Targets Network (SBTN) will delay validating the programme’s first nature targets till July after initially planning their debut for Q1 of 2024, according to Executive Director Erin Billman, in the interest of supporting ambition among the 17 firms participating in the pilot phase.

Financial institutions should ‘go shopping’ for a data provider, TNFD exec says

Financial institutions should not hide behind the lack of data and start relying immediately on external data providers to assess the impacts on nature across their value chain, a Taskforce on Nature-related Financial Disclosures (TNFD) official has said.

TOOLS & GUIDANCE

CDC Biodiversite takes first marine step for Global Biodiversity Score

CDC Biodiversite has added an overfishing module to its Global Biodiversity Score (GBS) methodology in its first step to integrating marine biodiversity.

Wetlands in Australian state worth billions in ecosystem services beyond sequestration value, report finds

A study out of Western Australia has attempted to place a monetary value on two water-based ecosystems to better understand their myriad values to the environment and as sources of carbon sequestration.

POLICY

Right-wing in Germany threatens nature conservation, says minister

Right-wing politics in Germany poses a threat to nature conservation, as well as all areas of life in the country, a minister has said.

German finance ministry warns against ‘biodiversity leakage’ risk

Regional and international disclosure frameworks should enhance cooperation to minimise the risk of “biodiversity leakage”, a German Ministry of Finance official has warned.

NZ govt’s fast-tracked development approval plans alarm environmental groups

A proposal by the New Zealand government to create a fast-track ministerial approval process for infrastructure and development projects deemed significant has been declared “a war” on the country’s natural world by environmental groups.

German nature agency concerned about biodiversity regulation

The German government’s nature department would like to see regulation on biodiversity progress so that the financial sector is better equipped to tackle the environmental crisis.

SCIENCE & TECH

British Columbia’s old growth forests at risk of logging with inaccurate provincial accounting -report

The Western Canadian province relies on Old Growth Management Areas (OGMAs) as a method of accounting towards its commitment to protect 30% of lands by 2030, but an environmental non-profit reported Monday that BC’s OGMAs do not meet Canadian or international conservation standards, do not entirely contain old forest, and are at risk of logging.

BUSINESS & FINANCE

Everyone gets a job – JPMorgan, Lloyds, NatWest Group, and Standard chartered are just some of the financial institutions that have hired people into senior biodiversity roles over the past year, as the industry is racing to understand and address its impact on nature. (Bloomberg via Business Times)

POLICY

Indigenous leadership – The Canadian government has granted C$66 mln to 42 Indigenous-led conservation projects across the country. It hopes these initiatives will support Canada’s goal under the GBF of conserving 30% of its land by 2030. The announcement brings the total sent to similar projects to C$202 mln. Indigenous-protected territories can contribute to Canada’s conservation targets if they are also recognised as Other Effective area-based Conservation Measures (OECMs), or protected areas, the government said.

Farmer drama – Farmers protesting across France, Belgium, Spain, and Italy have won a delay to the introduction of EU rules to set aside land for biodiversity until 2025, The Guardian said. Under the proposals, farmers will have to keep 4% of their arable land free from crops, to regenerate soil health. Alternatively, farmers can use 7% of their land for crops like clover that provide cover for the soil after the harvesting of the main produce. EU member states are expected to approve the delay within two weeks.

Not so glossy – Environmentalists are urging the federal Australian government to block the development of a central Queensland coalmine that would allow hundreds of hectares of endangered koala habitat to be cleared, the Guardian reported. The Queensland government approved the Vulcan South coalmine in the Bowen Basin earlier this month without requiring an environmental impact statement. But the project still needs approval from the federal environment minister, Tanya Plibersek, to go ahead. If Vitrinite is granted final approval for the mine, the company will be licensed to clear 770 ha of koala habitat, 39 ha of greater glider habitat, 36 ha of vulnerable glossy black cockatoo habitat, and 1,024 ha of vulnerable squatter pigeon habitat.

Give me five – India has added five more wetlands to its list of internationally important Ramsar sites, increasing its tally to 80. The five wetlands are Ankasamudra Bird Conservation Reserve, Aghanashini Estuary and Magadi Kere Conservation Reserve in Karnataka, and Karaivetti Bird Sanctuary and Longwood Shola Reserve Forest in Tamilnadu. With the addition of these sites, the total area covered under Ramsar sites reached 1.33 mln ha, with an increase of 5,524 ha from the existing area. The announcement comes ahead of the World Wetlands Day 2024, on Feb. 2.

SCIENCE & TECH

Brits abroad – The UK’s biodiversity net gain (BNG) metric will underpin a pilot Americas Biodiversity Metric, launching this spring from consultancy Ramboll and scientific non-profit NatureServe. The new metric aims to ensure designs for land use changes achieve measurable net positive outcomes for nature, supported by the UK government, Ramboll said on LinkedIn. The first release will focus on habitats in eastern US.

Survivors – The University of Alberta discovered two species of beetles, with one believed to be extinct for nearly a century. The beetles were found in the Northern Negros National Park in the Philippines. Notably, the metapocyrtus bifoveatus species was discovered at an altitude of over 1 km after its lowland rainforest habitat was deforested.

Nest of hope – Nine green turtle and hawksbill turtle nests have been found along a remote island coastline in Cambodia, containing as many as 1,000 eggs. The discovery – made by volunteers from the Royal Cambodian Navy – has offered hope for saving the two critically endangered species. This is the first time that a sea turtle nest has been seen in the country for a decade.

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