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

This is the last issue of Biodiversity Pulse for 2024. Thanks to everyone for following us, we wish all our subscribers a wonderful holiday season and a Happy New Year! The next issue of Biodiversity Pulse will be out on Tuesday, January 7.

TOP STORY

ANALYSIS: 2024 ends in frustration for nature with trust among countries at low ebb

Frustration over inaction on the nature crisis has built following the overall poor outcomes of this year’s international talks, in what is described as an unprecedented climate of distrust, with observers arguing 2025 could be critical for global efforts on biodiversity.

MARKET

INTERVIEW: High expectations for governments to back biodiversity markets in 2025

The ongoing environmental crises are unlikely to be solved unless crediting schemes move beyond just carbon, with governments now tasked with starting establishing common metrics on biodiversity to back the market uptake, a researcher at the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) told Carbon Pulse.

BIOFIN sets out actions to scale biodiversity credit market in Colombia

Scaling the voluntary biodiversity credit market could help Colombia bridge the financing gap on ecosystem services preservation, though steps must be taken to improve integrity and unlock corporate investments, the UN Biodiversity Finance Initiative (BIOFIN) has said.

BUSINESS & FINANCE

UAE-based company issues $100-mln bond to advance marine conservation

A Dubai-headquartered logistics company has issued a $100-million bond to support marine conservation projects, claimed to be the first of its kind in the MENA region.

TOOLS & GUIDANCE

Microsoft to deploy AI-powered biodiversity monitoring tool next year

Microsoft has announced an AI-powered device aimed at improving biodiversity monitoring, with plans to make it available worldwide in 2025.

POLICY

GEF Council ringfences nearly $700 mln for biodiversity protection, chemical management in developing countries

The Global Environment Facility (GEF) Council has approved nearly $700 million in financing to support developing countries in enhancing chemicals and waste management and protecting biodiversity.

India witnesses marginal rise in green cover, decline in mangrove area -report

India’s forest and tree cover has increased since 2021 and stands at 827,357 square kilometres or around 25% of the country’s total geographical area, according to a government report released Saturday.

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BITE-SIZED UPDATES FROM AROUND THE WORLD

MARKET

Appeal – A Peruvian offset developer on Friday appealed a case involving one the world’s biggest historical issuers of REDD-based carbon credits, after a judge ruled against the project’s backers, including several government agencies, and ordered the nullification of some forest concessions. The case, brought by the Indigenous Peruvian community of the Puerto Franco Kichwa, involves the massive, Verra-registered Cordillera Azul National Park REDD project (VCS 985), which records show has issued 36.6 mln credits to date. Six government agencies, two forest concessions, and non-profit developer CIMA were all named as defendants in the case. (Carbon Pulse)

POLICY

Tax-free – Thailand’s cabinet has approved a proposal to exempt its mangrove forests from land tax starting 2025, the country’s Department of Marine and Coastal Resources (DMCR) announced this week, according to local media reports. The DMCR, under the Ministry of Environment and Natural Resources said that a proposal for waiving the tax on privately-owned mangrove forests has been passed and the regulation will take effect on Jan. 1, 2025, in order to save the fertile wetlands from transforming into agricultural lands. (Carbon Pulse)

Norway’s forests – The government of Norway announced on Friday the protection of 22 forest areas in nine counties, for a total of 40 sq. km of new protected areas. This decision represents progress toward the goal of protecting 10% of the country’s forests, the government said in a release. Following this move, 5.4% of all forests and 4.1% of productive forests in Norway are now classified as protected areas.

No roads – A group of 35 MEPs have signed a letter to the International Monetary Fund’s managing director Kristalina Georgieva, asking her to ensure that the $321-mln Resilience and Sustainability Facility (RSF) allocated to Madagascar is not used for environmentally destructive projects, such as road projects, that threaten the country’s last primary forests. These ecosystems are critical for water security, energy systems, food production, and biodiversity, MEPs said in their letter.

Partners – Saudi Arabia’s National Center for Vegetation Cover Development and Combating Desertification (NCVC) and the International Carbon Registry (ICR) signed a Memorandum of Understanding (MoU) during COP16 in Riyadh, the organisations announced Thursday, calling it a significant step towards advancing global climate solutions through nature-based solutions (NBS). Aligned with Saudi Arabia’s Vision 2030 and the Saudi Green Initiative, the partnership aims to address desertification, enhance biodiversity, and develop a programme to cut GHGs using NBS, for example afforestation, mangrove restoration, biochar production, and algae cultivation. The collaboration focuses on carbon sequestration, biodiversity conservation, economic opportunities for local communities. Based in Riyadh, the NCVC is a governmental organisation dedicated to the sustainable management and development of Saudi Arabia’s vegetation resources. It oversees the protection and rehabilitation of forests, rangelands, and national parks, aiming to combat desertification and enhance biodiversity. 

SCIENCE & TECH

New species – Twenty-seven new species have been uncovered in an expedition in Peru’s Alto Mayo Protected Forest carried out by Conservation International (CI) and members of local Indigenous groups. The discovery includes four mammals, eight fish, three amphibians, and 10 butterfly species. These findings are considered remarkable due to the species proximity to highly populated areas, CI said. Covering more than 780 ha, the region’s relatively high population density has fueled high rates of deforestation and agricultural expansion, threatening its biodiversity.

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