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TOP STORY
EU lawmakers vote to delay, water down anti-deforestation law
The European Parliament on Thursday approved a proposal by the EU Commission to postpone the application of its landmark regulation against deforestation by one year, in what observers say is a major setback for the bloc’s ambitions on nature and climate.
MARKET
Regen, Terrasos partner to develop blockchain platform for biodiversity credit market
US-based environmental credit platform Regen Network Development and Colombia-based developer Terrasos have partnered to create a new blockchain-based system for enabling transparent sales of biodiversity credits.
Plastic credits ‘false solution’ as UN talks edge closer, says UK non-profit
A UK-headquartered biodiversity conservation organisation has urged countries not to back crediting mechanisms as a means to tackle the plastic crisis, labelling them as a “false solution” that is highly exposed to greenwashing.
Blue carbon credits to help bolster Australian coastal ecosystem restoration project
Australia’s Clean Energy Regulator has registered the nation’s second blue carbon project, which restores and enhances blue carbon ecosystems at a site that is part of a vast network of crucial habitats for migratory birds across East Asia and the Pacific.
5% of planning applications subject to UK biodiversity net gain rules, research suggests
Some 5% of recent planning applications have complied with England’s biodiversity net gain (BNG) rules, in a positive sign the legislation is working, a lawyer has said.
BUSINESS & FINANCE
Impact investor to put $6 mln into Amazon conservation
Social impact investor Nesst plans to distribute $6 million throughout next year towards smaller enterprises that support nature in the Amazon region, Carbon Pulse has learned.
German nature tech company raises €1.6 mln to scale biodiversity monitoring platform
A Germany-based nature tech company raised €1.6 million in pre-seed funding to scale its automated biodiversity monitoring platform, it announced on Wednesday.
TOOLS & GUIDANCE
CDP, GRI join forces to boost corporate disclosures on biodiversity
Non-profit CDP and disclosure standard the Global Reporting Initiative (GRI) have partnered to improve corporate assessments of nature-related impacts, they announced Thursday at the ongoing COP29 UN climate summit in Azerbaijan.
Report flags limitations with corporate forestry data platform
Financial institutions should be aware of the shortcomings of a corporate forestry data platform called Forest IQ, a new study has said, drawing attention to the risk that it could generate misleading results, though it remains a good starting point.
SCIENCE & TECH
Singapore tech company to develop framework to automate coral farming
A Singapore-based tech firm is developing a framework for mass-producing corals and automating the farming process, considering generating carbon or biodiversity credits within two years, the company told Carbon Pulse.
More than 40% of coral species at risk of extinction, assessment reveals
Over 40% of reef-building coral species are at risk of extinction worldwide, according to a new assessment released Wednesday during the ongoing COP29 climate summit in Azerbaijan.
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BITE-SIZED UPDATES FROM AROUND THE WORLD
BUSINESS & FINANCE
WWF suite – New York-based investment research company MSCI has announced it will integrate the WWF Risk Filter Suite into its products in a bid to support financial institutions to incorporate nature-related data and tools from NGOs into their analyses. The WWF launched the tool last year during the World Economic Forum in Davos, Switzerland, seeking to support the private sector in identifying and taking action on biodiversity-related risks across their operations, value chains, and investments.
Cash flow – Representatives of business and finance more than doubled at the COP16, compared with the last summit two years before, journalism outlet DeSmog has reported. Corporate attendees reached a total of 1,261 delegates, a rise that was proportionally higher than the increase in overall attendees, which rose by 46%. Banks were the best-represented sector with 124 delegates, followed by fossil fuel companies, which brought 40 representatives, while food fetched 33 executives. “The delegates brought by some companies dwarfed country delegations from the Global South,” DeSmog said.
Joining the gang – Hitachi Construction Machinery Group has become the latest company to join Japan’s 30by30 Alliance for Biodiversity, a government initiative joined voluntarily by companies wishing to contribute to the country meeting its GBF target. Participants are expected to back initiatives such as OECMs, even if they don’t own appropriate lands themselves, while making efforts to reduce their negative impact on nature. In addition to domestic activities, Hitachi Construction Machinery has also initiated international reforestation efforts in countries like Indonesia and Zambia.
The docks of nature – The first nature-related disclosure report for a New Zealand business has been released by Lyttelton Port Company, a port on the South Island of the country. This report aims to provide a foundation for understanding where it needs to focus to work towards improving the state of nature, it said. “A healthy and functioning surrounding environment is crucial for maintaining our consent to operate and our social licence.”
POLICY
FAQs – The EU Commission has released a set of FAQs to clarify the interpretation of specific provisions on reporting under the Corporate Sustainability Reporting Directive (CSRD). The document also addressed the first set of European Sustainability Reporting Standards (ESRS), where legal interpretation from the EU Commission has been deemed to be necessary.
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