A Dutch nature-based solutions developer plans to start a biodiversity credit pilot in Australia by the third quarter of 2024.
Rotterdam-based DGB Group said the initiative aims to enhance the protection and restoration of crucial habitats, safeguard threatened species, and rehabilitate degraded ecosystems.
“For this pilot phase, DGB has partnered with a local project implementation partner in Australia,” the company said in a statement, without disclosing further details.
“DGB is looking to conclude the pilot phase and full feasibility studies in the coming months, and is aiming to start the project in Q3 2024.”
The statement – which came nearly one year after DGB announced plans to set up a platform to sell tailor-made biodiversity credits – did not specify if the project would fall under Australia’s recently legislated Nature Repair Market (NRM), and the company did not immediately respond to questions.
In December, the Australian government passed its NRM legislation, paving the way for a domestic biodiversity credit market. Landholders participating in an eligible project are issued ‘biodiversity certificates’, which can be traded to businesses, individuals, or the government to help meet nature targets.
PLASTIC CREDIT PILOT
DGB also announced a separate pilot in Sri Lanka to develop a plastic credit project, with one unit corresponding to 1,000 kg of plastic cleaned up and recycled.
“Our expansion into plastic and biodiversity credits is more than just a strategic business decision, it’s a commitment to our planet and future generations,” said DGB CEO Selwyn Duijvestijn.
“The launch of these pilots signifies DGB’s dedication to providing comprehensive solutions for environmental challenges. We are not just observing market trends, we are actively shaping a sustainable future.”
DGB has recently expanded its portfolio of nature-based carbon projects, which also “benefit local communities and conserve biodiversity”, according to the company.
These include two reforestation projects in Kenya and Cameroon, undergoing validation with Verra, and a project aimed at restoring chimpanzee habitats in Uganda, awaiting approval from Gold Standard.
The company also started feasibility studies of projects in Ethiopia, Cote d’Ivoire, the Democratic Republic of Congo, and Kazakhstan.
By Sergio Colombo – sergio@carbon-pulse.com
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