The South Downs has become the first national park in the UK to establish a formal scheme for a voluntary biodiversity credit market, aiming to scale up private investments in nature recovery.
The scheme was launched last week and presented in partnership with UK nature tech company Earthly, whose work is focused on connecting businesses with nature-based projects.
According to the interim chief executive for South Downs National Park Authority (SDNPA), Tim Slaney, the initiative seeks to engage businesses of all sizes across the country in supporting landowners with sustainable practices that can boost the park’s variety of animals and plants.
Around 500 hectares of land on farms and country estates in Hampshire and Sussex have already been identified and designed for biodiversity restoration programmes that can be funded through the crediting scheme.
“There is now a real appetite across the corporate sector to demonstrate first-class environmental integrity, meet national targets, and invest in the planet for future generations, and that’s exactly what voluntary biodiversity credits can deliver,” said Slaney.
“We’re at a pivotal moment,” he added, hopeful that the scheme becomes a driving force behind nature recovery.
According to the 2023 State of Nature Report, a 203-page document produced by more than 60 organisations, the UK is one of the world’s most nature-depleted countries.
Biodiversity and wildlife in the UK continue to decline, with a 19% decrease in the number of monitored animals and plant species over the last five decades.
In a bid to reduce the threats to national biodiversity, the report called for increasing investments and shifting to nature-friendly farming models.
“The growing desire to invest in the environment dovetails with an ever-expanding need in the land and farming sector to diversify and find new revenue streams,” Slaney said.
“Both sectors can work harmoniously together, and national parks can be the facilitator.”
The voluntary credit scheme has been designed under the park’s ReNature campaign, an initiative aiming to create 13,000 ha of new habitat to help nature thrive.
It follows the introduction of the mandatory biodiversity net gain (BNG) policy earlier this year, which requires development projects in England to achieve a net biodiversity improvement of at least 10%.
In November, the Iford Estate farm in the South Downs National Park confirmed sales for most of its 211 BNG units over 32 ha of grass and scrubland.
ReNature also seeks to ensure 33% of the national park is managed solely for nature by 2030, while the remaining 67% is nature-friendly.
According to the SDNPA, since the campaign launched, the national park has supported the creation of over 400 ha of new wildlife habitat and improved the condition of 4,312 ha of existing habitat.
A 2023 report by the World Economic Forum estimated biodiversity credits could reach $180 billion annually by 2050 if a radical transformation in valuing nature happens.
By Giada Ferraglioni – giada@carbon-pulse.com
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