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TOP STORIES
EU gives final green light to Nature Restoration Law in ‘historic’ move
EU environment ministers agreed on Monday to green-light a regulation that aims to restore natural habitats, ending a year-long legislative back-and-forth in what campaigners hailed as an “historic step” in the fight against the biodiversity and climate crises.
FEATURE: Nature tech startups sit tight on biodiversity monitoring amid concerns over lack of investment
Nature tech companies are struggling to attract investment for biodiversity monitoring due to lack of corporate demand, with venture capitalists encouraging them to “survive” as the market is slated to grow within the next two years.
MARKET
Global credit market could slash costs of ocean conservation by 98%, study says
Establishing a voluntary market-based scheme that allows countries to trade ocean conservation credits could reduce the costs of marine protection by up to 98%, incentivising governments to achieve their biodiversity targets, a paper has said.
Without mindset change, biodiversity credits are only good for marketing, Landbanking Group founder says
A radical mindset change in how companies address their dependencies on nature is key to ensuring biodiversity credits emerge as an effective solution to tackle ecosystem and species loss, the founder of Germany-based tech startup Landbanking Group told Carbon Pulse.
BUSINESS & FINANCE
INTERVIEW: Octopus Investments takes mixed approach to natural capital strategy
A British investor launching a natural capital strategy is aiming for a strong risk-return profile by balancing investments in nascent markets like biodiversity with more assured sectors like renewable energy and afforestation.
Biodiversity among top concerns for companies under CSRD requirements, PwC survey shows
Biodiversity is among the biggest concerns for companies grappling with corporate disclosures, with a quarter of them lacking confidence in their ability to meet the requirements set out by the EU’s Corporate Sustainability Reporting Directive (CSRD), a PwC survey has revealed.
TOOLS & GUIDANCE
Conservation charity releases standard for certifying biodiversity uplift
A UK-based conservation charity released Tuesday a site-based biodiversity standard applicable to all land management projects, including habitat restoration, tree planting, and agroforestry initiatives.
POLICY
GEF Council agrees $170-mln spending on biodiversity
The Global Environmental Facility (GEF) Council approved Tuesday a $500 million spending package on environment, including nearly $170 mln on efforts to tackle biodiversity loss.
Australian govt ringfences A$28.5 mln to restore the Great Barrier Reef
The Australian federal Labor government announced Tuesday an allocation of A$28.5 million ($18.9 mln) to support the restoration and rehabilitation of coastal habitats on the Great Barrier Reef.
Canada releases 2030 nature strategy
The Canadian government has released a 2030 Nature Strategy for reversing biodiversity loss, in line with the goals of the COP15 final agreement, proposing ramping up natural capital accounting.
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BITE-SIZED UPDATES FROM AROUND THE WORLD
MARKET
Saving mangroves – Hawaiian forest restoration company Terraformation has partnered with property firm Grosvenor on the sale of first carbon credits issued from its Seed to Carbon Forest Accelerator, the entities announced Tuesday. Grosvenor’s investment is expected to offset 15,000 tonnes of CO2e between now and 2030, at an average price just below $50 per tonne. Meanwhile, the sale to the property firm comes from a project to fund and restore 1,500 ha of mangroves in Keta Lagoon, Ghana. Known as Regenerative Development of Anlo Wetlands (ReDAW), the mangrove project is implemented by ReDAW Ltd and ReDAW Foundation and will restore 1,536 ha of mangroves on degraded wetlands and bring significant community benefits. Established in 2022, Terraformation’s Accelerator has secured commitments to restore nearly 25,000 ha of biodiverse, native forest around the world.
BUSINESS & FINANCE
Canadian support – The Canadian government and the Asian Development Bank (ADB) on Monday launched their partnership to establish a C$360 mln ($262 mln) trust fund for private sector-based climate initiatives in Asia and the Pacific region. The Canadian Climate and Nature Fund for Private Sector in Asia (CANPA) will help to introduce viable projects to the market, particularly those that were “unlikely to proceed solely on a commercial basis”. ADB will administer CANPA on behalf of Canada to support private companies’ GHG reduction plans and improve their climate resilience. CANPA will also finance nature-based solutions to protect, manage, and restore ecosystems, such as sustainable agriculture and aquaculture. The partnership follows two other joint initiatives between the Canadian government and ADB: an $85.5 mln Canadian Climate Fund for the Private Sector in Asia (CFPS) in 2013, which was extended in 2017 under CFPS 2 to provide an additional $150 mln for 14 climate finance investments across Asia.
POLICY
EU soil – The EU Council has reached an agreement on a bill that makes soil health monitoring obligatory. Under the law, member states will be required to monitor and assess the health of all soils in their territories. The soil monitoring directive includes guiding principles on sustainable soil management and addresses health and environmental risks posed by contamination, aiming to put the EU on a pathway to healthy soils by 2050. The EU Council will now negotiate a final agreement with the European Parliament.
An opportunity to adapt – The High Seas Treaty on biodiversity beyond national jurisdiction (BBNJ) represents a historic opportunity for climate change adaptation, experts have said. A paper authored by scientists from several member organisations of the High Seas Alliance, including Conservation International, BirdLife International, and Oceans North, said there are three crucial steps that the treaty must take to effectively address climate change impacts on wildlife. Those steps include collaborating with fisheries management and other high seas organisations to conserve moving species, coordinating strategic plans for conservation networks across the high seas and national jurisdictions, and sharing and building scientific capacity across jurisdictions.
The name’s outcome bond – The World Bank will soon issue a new bond to raise $200 mln in order to boost reforestation in Brazil’s Amazon, Reuters reported. The bond is also expected to support World Bank’s sustainable development activities and provide financing for reforestation projects selected by Brazilian startup Mombak. The startup buys degraded land from farmers and ranchers or partners with them to replant native species in the world’s largest rainforest, and generates carbon credits that can be traded globally. The World Bank’s “outcome bond” model allows investors to support specific sustainable projects and outcomes. Some similar initiatives by the World Bank include a $100 mln bond to finance plastic reduction projects in Ghana and Indonesia, and a $150 mln bond to support efforts to increase the endangered black rhino population in South Africa, Reuters added.
SCIENCE & TECH
Bay watch – A large-scale project to conserve 100 miles of coastline in Sussex has officially launched, Rewilding Britain said in a post on LinkedIn. The Sussex Bay initiative is a council-propelled movement, powered by civic organisations, local businesses, communities, and people. The project is on a mission to generate a £50 mln fund by 2050 for nature recovery.
Say bees – In South Korea, five government-affiliated research organisations have partnered with the National Institute of Biological Resources on a conservation plan for pollinator ecosystems. The main elements of the strategy involve identifying, planning, and implementing cooperative projects; capacity-building and personnel exchange; and efficient information and data sharing. They will also compose a list of insects that pollinate South Korean Milwon trees.
Slicked in oil – Habitats and marine wildlife covered in oil have been spotted by conservationists and local community members in Singapore’s southern islands after a damaged cargo tank at Pasir Panjang Terminal leaked oil into the sea, the Straits Times reported. Marine biologists said they are concerned about the impact of the spill on Singapore’s coral reefs, already weakened by the ongoing bleaching event, while fishing communities are on high alert for potential fish deaths in the coming days.
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