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TOP STORY
Biodiversity credit metric can enhance investment in species conservation, study says
A recently developed metric for tradable biodiversity credits has the potential to optimise resource allocation to species conservation efforts, a paper has said.
MARKET
Canadian nature conservation certificate programme to remain small, expert says
Canada’s pilot for enabling companies to earn government-issued certificates for conservation achievements will remain small scale, an expert has predicted.
BUSINESS & FINANCE
Sustainability-linked bonds increasingly tied to biodiversity, UNDP says
Biodiversity is increasingly included as a key performance indicator (KPI) in sustainability-linked bonds (SLBs), as the market is expected to accelerate compared to last year, a UN Development Programme (UNDP) official has said.
Lidl partners with WWF to improve biodiversity conservation across its supply chain
Germany-headquartered food retail company Lidl has partnered with conservation organisation WWF to enhance biodiversity protection throughout its supply chain across 31 countries.
Financial institutions band together to advance biodiversity-related risk assessments
A group of financial institutions and consultancies have joined forces with a research institute to improve the assessment of biodiversity-related risks and opportunities to the financial sector, including estimating the economic impact of nature loss.
TNFD adopters grow past 400, pass $6 trillion in market capitalisation
An additional 96 organisations have pledged to adopt recommendations on nature-related financial disclosures within the Taskforce on Nature-related Financial Disclosures (TNFD) framework, bringing the total to 416 adopters with over $6 trillion in market capitalisation.
UN proposes global fund for sharing benefits derived from plant, animal DNA sequencing
The UN drafted on Monday a proposal to establish a global fund for sharing some of the multi-trillion dollar revenues derived from products that leverage the use of the DNA sequences of plants, animals, and microbes, known as digital sequence information on genetic resources (DSI).
POLICY
Study finds BNG metric brings no gains for birds, butterflies
There’s no evidence that Biodiversity Net Gain (BNG) units developed using the statutory biodiversity metric in England result in improvements for birds and butterflies, as additional conservation efforts are needed to reach 10% net gain for those species, a newly published study has found.
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BITE-SIZED UPDATES FROM AROUND THE WORLD
BUSINESS & FINANCE
In vogue – UK nature intelligence firm NatureMetrics has partnered with luxury group Kering to enhance regenerative agriculture practices in the fashion industry. NatureMetrics will provide data to the Regenerative Fund for Nature, which was established by Kering and Conservation International in 2021 and seeks to transform 1 mln ha of crop and rangelands in fashion supply chains into regenerative agriculture by 2025. One of the fund’s projects will leverage environmental DNA technology to support the measurement of biodiversity impacts.
Next generation – UAE’s Mohamed bin Zayed Species Conservation Fund has allocated $1.5 mln in grants to support young conservationists in developing countries, The National reported. Under the initiative, supported by the Global Environment Facility (GEF), grants will be delivered over three years. “This partnership aims to empower young people from developing countries, amplifying their voices and enhancing their participation in environmental research and policy,” said Carlos Manuel Rodriguez, chief executive of the GEF.
POLICY
Map and restore – The Danish government is set to establish an ocean nature fund aimed at advancing marine mapping and restoration efforts across the country. A total of DKK500 mln ($72 mln) has been allocated to the initiative, dubbed Harbour Nature Fund. DKK25 mln will be ringfenced this year to support a number of projects, including scaling up the restoration of Taarbaek Reef and developing digital infrastructure for marine environmental data. DKK100 mln will be delivered in 2025, followed by DKK75 mln per year from 2026 t0 2030. The government also announced it has designated two new strictly protected MPAs.
Old ones – Canada’s British Columbia is receiving C$50 mln ($36.6 mln) in support to protect 300 ha of old growth forest, Terrace Standard reports. The federal government, the provincial Old Growth Nature Fund, and private donors and organisations have contributed to the purchase of privately-owned land, and the funding will go towards protecting the area for the next three years.
Keeping track – India has become the first country in the world to draw up a checklist of its entire fauna, the government has said, according to the Economic Times. Its list covers more than 1 mln species, including threatened ones, and is expected to be a crucial reference point for policymakers as well as conservationists, academics, and others.
Conserving Mongolia – The UNDP Biodiversity Finance Initiative (BIOFIN) has helped Mongolia to enhance the effectiveness of the Natural Resource Use Payment law, a bill that aims to channel revenues from natural resource use payments into environmental protection, including biodiversity conservation. In 2023, revenues from the NRUP law amounted to $11.9 mln, UNDP BIOFIN said. This marked a 170% increase compared to the average from 2016-2021. This year’s forecast suggests an even bigger increase, reaching $22.4 mln.
Turtles – Governments, experts, and stakeholders have agreed on several actions to strengthen marine turtle conservation in the Indian Ocean and South-East Asia region, during a UN summit held in Tanzania over June 24-27. Conservation efforts include the adoption of a Single Species Action Plan for the critically endangered hawksbill turtle, recommendations on beach management and hatchery practices, as well as the endorsement of guidance on identifying critical habitats for turtles. Governments also endorsed guidance on identifying critical habitats. To date, 15 sites have been added to the network of sites of importance, including four at the meeting.
SCIENCE & TECH
Can I get an encore – The ENCORE tool has been updated with seven key improvements. These include helping screen nature-related impacts and dependencies, a more detailed breakdown of economic sectors, inclusion of cultural ecosystem services, and improved methodology behind materiality ratings. Companies can access the new data via downloadable spreadsheets, with the updates set to be embedded online later this year.
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