Presenting Biodiversity Pulse, Carbon Pulse’s free newsletter on the biodiversity market. It’s a twice-weekly summary of our news plus bite-sized updates from around the world. Subscribe here
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TOP STORIES
Argentine developers to market first biodiversity credits at COP16
Two Argentine developers have partnered with a Switzerland-headquartered foundation to launch separate biodiversity credit projects in two South American forests over 11,000 hectares, with plans to market them at the upcoming COP16 summit, Carbon Pulse has learned.
UK developer hopes to sell biodiversity credits worth over $14 mln within months
Voluntary biodiversity credits worth over $14 million in total across two projects could be sold within the next three months to multiple-buyer groups, according to the head of credit developer RePlanet.
MARKET
International panel releases survey results on biodiversity credit market models
Many companies believe mandatory offsetting requirements would be critical for the biodiversity market to scale, according to submissions to the International Advisory Panel on Biodiversity Credits’ (IAPB) second round of consultation with market participants.
Survey of Australian biodiversity offset sites finds 30% in worse condition than before
A study commissioned by the Australian government on its biodiversity offset sites has found that 30% of the areas surveyed were in worse condition than before the projects started, and found missing, incomplete, and incorrect information in many of the projects’ documentation.
BUSINESS & FINANCE
Nature framework for investors launches with three target types
The Finance for Biodiversity Foundation (FfB) launched the second edition of its nature target-setting framework for asset managers and owners on Wednesday with three target types.
Central bank group flags two nature litigation trends
Nature-related law cases focused on rights and corporate responsibility are set to increase in the next few years, the Network for Greening the Financial System (NGFS) said on Tuesday in a report.
Environmental intelligence firm raises $10 mln to mainstream nature risk reporting
UK-headquartered nature platform provider Natcap announced Wednesday it has secured $10 million in a Series A funding round to scale its technology for supporting companies in assessing nature-related risks and opportunities.
TOOLS & GUIDANCE
French nature tech startup to develop ESA-funded biodiversity monitoring tool
A French nature tech startup has secured undisclosed funding from the European Space Agency (ESA) to develop a biodiversity monitoring tool for potential use in nature-related disclosures and the biodiversity credit market, Carbon Pulse has learned.
Restoring 11 key EU rivers can help achieve 10% of freshwater biodiversity target, WWF says
Restoring key EU rivers can help achieve 10% of the bloc’s biodiversity targets under the Nature Restoration Law while strengthening countries’ resilience to the climate crisis, a new report has shown.
POLICY
New York state drafts plan to achieve 30×30 biodiversity target
The US state of New York has drafted a plan to advance efforts towards protecting 30% of its land and sea by 2030, saying an additional 1.2 million hectares must be conserved to achieve this target.
SCIENCE & TECH
Palm oil land speculation major driver of Indonesian deforestation, satellite study finds
Speculation and land banking by the palm oil industry is a major contributor to Indonesia’s massive historical deforestation rates, according to a study published this week.
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BITE-SIZED UPDATES FROM AROUND THE WORLD
BUSINESS & FINANCE
Restoring the Emirates – The Environment Agency of Abu Dhabi has partnered with TotalEnergies to launch a programme for the conservation and restoration of Abu Dhabi’s coastal ecosystems, such as mangroves, seaweeds, and salt marshes. The two companies will research, monitor, and evaluate the area leveraging different technologies – including drones and three-dimensional models – and develop guidelines, methodology, and cost-benefit options for restoring the habitats.
Forest guide – A new guide for helping financial institutions address deforestation due diligence has been published by German think tank Climate & Company in collaboration with Swedish pension fund Andra AP-fonden. The methodology is “unique” because it can be applied to the entire investment universe, in a streamlined process, Climate & Company said. “Sufficient data and tools are available to make deforestation due diligence happen.”
Natural investing – Investors are increasingly aware of the future financial risk associated with biodiversity loss, however, the transition to a nature positive economy offers a growth opportunity over decades, Anna Vaananen, head of listed impact equity at Axa IM Core said in a blog. “Investing in transition winners is only natural,” she said. “We believe that innovative companies with sound business models, which are providing commercial solutions to preserve nature, will be the winners of the biodiversity transition.”
Quarry quarrel – UK developer Heidelberg Materials has vowed to boost biodiversity through creating around 17 ha of new wildlife habitat as it prepares to reopen a Somerset quarry, BBC reported. Local residents had raised concerns over the impact the quarry would have on wildlife, water, and woodland. “Our proposals include extensive mitigation measures to reduce any potential impacts on the environment,” the company claimed.
POLICY
Save the sloths – Environmentalists have written to India’s environment ministry to stop the construction of a proposed 1,600 MW coal-based thermal power plant in Mirzapur in the state of Uttar Pradesh by the Adani Group. The area is part of a proposed Sloth Bear Conservation Reserve and is a habitat for rich and threatened wildlife of the Vindhyan-Kaimoor ecosystem. The industrial conglomerate has claimed that the project site is not forest land, which contradicts claims of previous forest officers that the area in question is a part of the land transferred to the state forest department, making it a ‘Recorded Forest’, according to Debadiyo Sinha, a climate expert. The same site was earlier proposed for Welspun Energy’s 1320-MW plant but was cancelled by the country’s National Green Tribunal.
Phase two – Uganda’s government and the International Union for Conservation of Nature (IUCN) have launched the second phase of an initiative aimed at tackling biodiversity loss in the country, the Nile Post reported. The first phase of the Biodiversity 2030 project focused on mobilising stakeholders, including the private sector and local communities, to identify the sectors contributing to nature loss in Uganda and outline voluntary commitments to enhance conservation and restoration efforts. The second phase will focus on implementing these pledges.
SCIENCE & TECH
Up in the Alps – The EU-backed Interreg Alpine Space initiative has announced a new partnership to map Alpine biodiversity and establish a common understanding of its conservation status. The project, led by Italian institute Eurac Research, will involve 12 partners, including protected areas managers, national authorities, and scientists from Austria, Italy, Slovenia, France, Germany, and Switzerland.
Coral project – The soft drinks arm of Japanese beverage maker Asahi Group has teamed up with Irabujima Environmental Association to kick off a coral transplantation project using CO2 collected from ‘CO2-eating vending machines’ in Okinawa prefecture in early July, in order to promote coral reef conservation activities, according to a company statement. Asahi Soft Drinks has implemented a number of special vending machines containing a powder-like material made from calcium compounds to absorb CO2 across the country. Under the project, the base for the coral transplantation will be made of carbon-negative concrete, and the use of Asahi’s CO2-absorbent material is expected to further support coral growth.
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