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TOP STORY
Colombian standard puts first biodiversity credit project out for consultation
A Colombian environmental standard has opened a public consultation on the first conservation project registered under its biodiversity credit programme, planning to certify it next year.
MARKET
New Zealand advised to set up biodiversity credit market
Launching a biodiversity credit market is among actions New Zealand should take in order to scale investments in nature-based solutions (NbS), according to a global consultancy.
BUSINESS & FINANCE
Regenerative agriculture fund reveals long-term target after raising $350 mln
A Latin America-focused regenerative agriculture fund, which will set aside up to a quarter of land for nature, has targeted raising up to $1.5 billion over 10 years after its initial fundraise of $350 million, Carbon Pulse has learned.
GEF-backed programme launches to mitigate agrifood impacts on nature
The UN Food and Agriculture Organisation (FAO) and the International Fund for Agricultural Development (IFAD) have launched a programme seeking to reduce the impact of agrifood systems on biodiversity and climate.
Ten banks fuelling deforestation in Paraguay’s Gran Chaco, NGO finds
Ten financial institutions have invested more than $1.7 billion between 2021 and 2023 in two meatpacking companies allegedly associated with deforestation in Paraguay’s Gran Chaco, according to an NGO investigation.
29 banking jurisdictions beginning nature focus, UNEP FI says
Some 29 jurisdictions, totalling more than €75 trillion of banking assets, have started reflecting nature-related considerations in their regulations, the UN Environment Programme Finance Initiative (UNEP FI) has said in a report.
Brazilian development bank calls for forest restoration proposals in Amazon, Atlantic Forest
Brazil’s National Bank for Economic and Social Development (BNDES) this week solicited proposals under initiatives collectively worth R$109 million ($18 mln) that would support forest restoration in the Amazon and Atlantic Forest.
POLICY
UN warns of worsening land drying, as pressure mounts on desertification COP
The UN Convention to Combat Desertification (UNCCD) has raised concerns over the alarming increase in land aridification registered in the past few decades, as pressure has mounted on negotiators in Ryhad to seek solutions to the ongoing crisis.
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BITE-SIZED UPDATES FROM AROUND THE WORLD
BUSINESS & FINANCE
Biodiversity fund planted – Netherlands-headquartered Privium Fund Management will launch a biodiversity impact fund with a target raise of €500 mln in early 2025, Impact Investor has reported. The Biodiversity Impact Fund will focus primarily on the four themes of regenerative agriculture, sustainable forestry, ocean preservation, and sustainable fishing. Impact Orange Partners is collaborating with Privium on the strategy, which has so far received commitments predominantly from family offices based in the Netherlands.
POLICY
Rewarded – Norway will pay Indonesia $60 mln after the Southeast Asian nation slashed deforestation levels in 2019-20. The payment will be made under the 2010 bilateral agreement between the two, which sees Norway pay $5 per tonne of CO2 saved as Indonesia reduces its deforestation levels. The country avoided a staggering 237 mln tonnes of CO2 over 2019-20, according to verified results accepted by Norway’s International Climate and Forest Initiative, and the payment is for a portion of those cuts. (Carbon Pulse)
Dragonflies and oysters – Scottish government agency NatureScot has awarded grants totalling over £1 mln to nature recovery projects in the country. These include the British Dragonfly Society receiving £225,238 to restore peatlands and bogs to help the rarest species of dragonflies. In addition, RSPB Scotland has been awarded £46,660 to improve the quality and connection between grasslands and hedgerows to improve habitats for house sparrows and blue butterflies. Furthermore, Northbay Innovations will receive £63,061 to develop a project to restore native oyster beds in Orkney.
The Sydney declaration – Indonesia, Australia, and Papua New Guinea signed on Thursday an agreement to establish a regional governance framework aimed at safeguarding the biodiversity of the Arafura and Timor Seas (ATS), local media reported. Dubbed “the Sydney declaration”, it builds upon a nine-year strategic action plan (2024–33) developed for addressing key environmental and fisheries challenges in the region. Actions include combatting illegal fishing practices, tackling marine pollution, and promoting biodiversity conservation and sustainable use of marine resources.
Restyling – Eight countries have joined a $340 mln initiative aimed at mitigating the environmental impact of fashion and construction industries, considered two of the world’s most chemical-intensive sectors. Countries include Cambodia, Costa Rica, Ecuador, India, Mongolia, Pakistan, Peru, and Trinidad and Tobago. Led by the UN Environment Programme (UNEP), the six-year programme also involves the Food and Agriculture Organisation (FAO), the UN Development Programme (UNDP), and the UN Industrial Development Organisation (UNIDO).
Lagging behind – Prague-based campaign group CEE Bankwatch has urged the Western Balkan governments to expand the national networks of Emerald sites under the Bern Convention, designed to advance biodiversity protection efforts in Europe. Most Western Balkan countries are far from meeting the target of protecting 35% of the species and habitats covered by the convention by 2030 – Bosnia and Herzegovina stands at 0.7%, Serbia at 13.5%, North Macedonia at 16%, and Montenegro at 16.3%.
Unbearable – The centre-right European People’s Party (EPP) is pushing to downgrade the protection status of bears in the EU. While the group intends to use the revision of the wolf’s status to also include the bear, this may not be feasible from a legal perspective, according to Euractiv. Last week, the Council of Europe backed a proposal to downgrade the status of wolves in Europe from “strictly protected” to “protected”, allowing more flexibility to permit wolf hunting.
Doing their homework – The UN Development Programme (UNDP) has signed an agreement with Uzbekistan’s government to help the country align its National Biodiversity Strategy and Action Plan (NBSAP) with the Kunming-Montreal Global Biodiversity Framework. Funded by the Global Environment Facility (GEF), the project will run until July 2027, Uzbekistan Daily reported.
SCIENCE & TECH
Shark tale – Overfishing has led to a decline of over 50% in the populations of sharks, rays, and chimaeras since 1970, a study published last week in the journal Science revealed. The analysis, carried out by scientists from the IUCN Species Survival Commission Shark Specialist Group, the Simon Fraser University, the James Cook University, and the Georgia Aquarium, is based on the first global reassessment of IUCN Red List Status published in 2021. Researchers developed an aquatic Red List Index (RLI), showing that the risk of extinction for those species has increased by 19%.
Rainforests – Only a quarter of the world’s remaining tropical rainforests are of high integrity, according to a study led by researchers at the University of Queensland and published in Proceedings of the National Academy of Sciences. Overall, up to 90% of forest cover remains within forest-dependent vertebrates’ ranges, but only 25% of it is of high quality, which is a critical factor in reducing extinction risk, said James Watson, professor at the University of Queensland and co-author of the study.
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