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INC-5
BRIEFING – Plastic talks stalling as stocktake shows insufficient progress
The first stocktake of the ongoing negotiations on the UN plastic treaty on Wednesday showed a lack of progress on key measures to address plastic pollution, with some observers questioning whether a meaningful treaty will be agreed this week.
FEATURE – Observers flag concerns over viability of plastic credits amid perceived lack of scientific basis
The lack of a standardised metric to measure plastic units has fuelled concerns over crediting mechanisms at the ongoing UN plastic talks in South Korea, with experts claiming the emerging market is not built on strong scientific foundations.
ANALYSIS – Industry groups defy negotiators in Busan on plastic product ban
Industry groups have ramped up pressure to ensure that a list of banned plastic products is excluded from the UN treaty under negotiation in Busan, South Korea, while environmental organisations have responded by warning such a move could significantly weaken the text.
Price floor for plastic credits needed to build market credibility, PCX says
A price floor should be established in the emerging plastic credit market to avoid a flood of low-integrity credits, including under national producer responsibility schemes, a standards body has told Carbon Pulse.
Verra expects to onboard up to 40 plastic credit projects within a year
Environmental standard Verra plans to expand its plastic credit programme with an additional 40 projects expected to be onboarded within a year, the company told Carbon Pulse.
South Korea has highest number of fossil fuel, chemical reps at plastic negotiations
Some 220 fossil fuel and chemical industry representatives have registered to participate in UN discussions of a treaty aimed at tackling plastic pollution, the highest number at any of the negotiations on the agreement so far, according to analysis released Wednesday.
MARKET
Tech firm launches UK biodiversity net gain marketplace
Tech startup BNGx on Thursday launched what it claims is the “first fully digital” marketplace for biodiversity net gain (BNG) units with a tailored process to connect buyers with sellers, joining a few other existing exchanges.
TOOLS & GUIDANCE
FEATURE: Dutch firm eyes branching out with army of tree-seeding robots
A Dutch nature restoration company aims to improve the scalability of reforestation with a fleet of tree-seeding robots that could help national tree-planting schemes.
POLICY
Countries to resume COP16 discussions in Rome early next year
COP16 negotiations will resume in Feb. 2025 in Rome after UN biodiversity talks were abruptly suspended in early November in Colombia.
SCIENCE & TECH
High levels of general public approval of UK’s biodiversity net gain impacts, research suggests
The English public generally approve of the environmental impacts of the country’s biodiversity net gain (BNG) policy, a pre-print paper has found.
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BITE-SIZED UPDATES FROM AROUND THE WORLD
BUSINESS & FINANCE
Tesla and rainforests – The demand for nickel to power electric vehicle batteries like those of Tesla is driving mining expansion in New Caledonia, threatening its biodiversity, said The New Yorker in an essay. New Caledonia harbours a quarter of the world’s nickel reserves, a vital resource for the batteries, according to estimates. The Pacific island’s rainforests, home to thousands of species found nowhere else, is under threat from nickel mining. Sourcing nickel on the island could hasten species extinction, scientists warned.
Origin of the species – France-based nature data company Darwin has raised €1.5 mln as part of a pre-seed round led by French venture capitalists Asterion, it said in a press release. Darwin is developing a platform to help consultants assess corporate biodiversity impacts and create concrete, actionable plans. The funds will be used for strengthening its tech and product teams, while scaling its solution to consultancies.
TOOLS & GUIDANCE
How is nature doing – Goldman Sachs is trying to advance the application of AI to biodiversity measurement in partnership with a Massachusetts Institute of Technology (MIT) department. AI can be a “crucial ingredient” for scaling nature-based financial products, the financial giant said in a press release. Researchers will use advanced AI to analyse location-based data, integrating inputs from satellites, drones, and ground sensors to develop biodiversity monitoring strategies. “It is easy to understand that nature is vital to our wellbeing, but it is more difficult to quantify exactly how it is doing,” said MIT-IBM.
POLICY
Agreement soon – World Bank is expected to sign a coastal restoration agreement with the Indian state of Tamil Nadu in Jan. 2025, the New Indian Express reported. The state government’s Tamil Nadu Coastal Restoration Mission which will be rolled within the next two months will see the formalisation of an agreement with the World Bank, sources told the local newspaper. Officials have confirmed that 30% readiness, a prerequisite for signing the contract, has been achieved, and a detailed project report is being prepared. The government will set up the Tamil Nadu Blue Carbon Agency, which will be responsible for overseeing the preservation of targeted coastal ecosystems, including mangroves, seagrass, and salt marshes. This initiative will create a framework for trading carbon credits.
Scottish markets – A Scottish national park has published guidelines for scaling green finance into nature markets in areas including biodiversity, water, and carbon credits. Loch Lomond and the Trossachs National Park has committed to deliver large-scale nature restoration, but a lack of substantial, long-term funding remains a key barrier to achieving this goal, it said in the plan. The guidance is intended for developers, land managers, and communities considering how green finance may support nature restoration projects in the park.
Bog turtles – The US-based Center for Biological Diversity is suing the US Fish and Wildlife Service for delaying protections for the endangered southern bog turtle, it said this week. The agency was required to decide more than a year ago whether to officially act to help protect the turtles, the group said. Bog turtles, the smallest of their species in the US, are roughly the size of a human thumb. They are also among the world’s most endangered turtles, with their southern population shrinking by 50% since 2000, leaving fewer than 2,000 individuals remaining.
PROJECTS
Painted turtles – The Nature Conservancy of Canada has announced the conservation of the 970-hectare Morrison Lake Nature Reserve in its country. The area features forests, wetlands and lakes, marking a “significant win” for nature, it said in a press release. It is home to threatened species such as the midland painted turtle, Canadian warbler, and monarch butterfly. The project was financed from private, public, and non-profit sources.
SCIENCE & TECH
Udderly green – Most New Zealand dairy farmers put profitability first, but some are planting native trees anyway, The Conservation found by visiting 14 farms. Most of the farmers assessed did not see a connection between native biodiversity and milk production. However, others saw opportunities for native biodiversity contributing towards values such as the attractiveness of the farm, or providing shelter for cows. “Unless we can draw a clear connection between native biodiversity and the economic viability of a dairy farm, making space for natives will continue to depend on landowners’ value hierarchies,” it said.
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