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TOP STORY
INTERVIEW: Think tank advocates EU compliance market for nature credits
The EU should take steps to establish a compliance market for nature credits, as emerging national schemes risk falling short of mobilising enough finance for conservation and restoration efforts, an influential think tank has told Carbon Pulse.
MARKET
Brazilian developer revamps biodiversity credit methodology, seeks certification under Cercarbono
A Brazilian developer is reviewing its biodiversity credit methodology for endangered species as part of the certification process under environmental standard Cercarbono, with plans to issue credits later this year, the company told Carbon Pulse.
Biodiversity credit market has “immense” oversupply, expert says
The emerging biodiversity credit market is affected by outsized supply, with available credits far outstripping demand, risking fatal consequences, according to analysts.
Up to 1,500 English developer plans each month engaged with boosting biodiversity
Between 1,200 and 1,500 developer planning applications each month are engaging with biodiversity net gain (BNG) requirements, which suggests the law is working, a civil servant has said.
World Bank seeks experts to develop REDD+ carbon programmes in Upper Guinean Forests
The World Bank has issued a tender seeking consultants to develop roadmaps and carbon emissions reduction programmes under REDD+ to combat deforestation and degradation in the biodiversity-rich Upper Guinean Forests.
Consultancy pitches five next steps for UK biodiversity net gain
A consultancy executive outlined five potential next steps for ensuring the UK’s biodiversity net gain (BNG) policy achieves progress for nature, including a call for a shift in values, during a conference on Monday.
BUSINESS & FINANCE
TNFD sets sight on China as first bank in the country joins taskforce
Bank of China has become the first Chinese financial institution to join the Taskforce on Nature-related Financial Disclosures (TNFD) in a move expected to pave the way for enhanced corporate reporting in the Asian country.
Only 13% of high-impact firms made “robust” pledges on nature, Oxford study finds
Only 23 out of 180 firms from highly impacting sectors have so far reported sufficiently detailed and transparent commitments on nature to allow third-party verification of whether their targets have been met, a pre-print study released Friday found.
PROJECTS
UK charity unveils 10-year plan to restore nature across 250,000 ha
A UK charity has announced plans to create 250,000 hectares of nature-rich landscapes in the country over the next 10 years in a bid to support national efforts to meet biodiversity goals.
SCIENCE & TECH
Australian researchers spell out the staggering cost of biodiversity protection
The cost of restoring all of Australia’s degraded flora and fauna as well as protecting its biodiversity would be a quarter of the nation’s gross domestic product (GDP) of 2022, a complex suite of calculations from a leading university has found.
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BITE-SIZED UPDATES FROM AROUND THE WORLD
MARKET
300k – A Rio de Janeiro-headquartered carbon offset developer has teamed up with a Brazilian agricultural firm to restore 600 ha of degraded land owned by the company in the Amazon rainforest, with plans to generate 300,000 carbon credits over the next few decades. Re.green partnered with Agro Penido to implement reforesting activities in the latter’s farms in the Mato Grosso state, Reuters reported on Monday. (Carbon Pulse)
BUSINESS & FINANCE
Million dollar DNA – Biodiversity monitoring company NatureMetrics announced on Tuesday that it raised $25 mln in series B funding to scale its environmental DNA technology. Funding will enable the company to meet the increasing data requirements of corporations and conservationists, providing insights on nature to inform management decisions and reporting obligations, the company said in a statement. NatureMetrics’ clients include large corporates, such as Unilever and Anglo American, and major conservation groups, including WWF and Fauna & Flora.
Top marks – A Taiwanese TNFD report from bank E.SUN has received third-party verification – the ‘first of its kind’ in the country – with an “excellent” grading from the British Standards Institute, the bank said in a press release. The report evaluated over 35,000 domestic corporate operation sites, and more than 120,000 mortgage collateral locations across Taiwan, alongside a trial nature scenario analysis. It followed E.SUN publishing a joint TNFD and TCFD report in 2022.
POLICY
150 tigers – The United Arab Emirates and the Malaysian state of Pahang have partnered to safeguard the future of the critically endangered Malayan tiger, which has fewer than 150 wild individuals remaining, reported Twentytwo13 on Tuesday. A grant of RM 99.8 mln ($22 mln) from the Mohamed bin Zayed Species Conservation Fund seeks to enable tiger conservation, habitat restoration, and community development. The capital will support the 134,000-ha Al-Sultan Abdullah Royal Tiger Reserve.
Back into the wild – Vietnam has approved its national programme for the conservation of endangered wildlife species, Vietnam News reported on Monday. According to local media, the strategy aims to protect and improve the population status of at least three species in captivity, with plans to reintroduce them into the wild by 2030. Additionally, the programme seeks to create a database of endangered and rare wildlife species prioritised for protection, while also enhancing in-situ conservation measures.
Marine restoration – Denmark has launched a project aimed at enhancing marine biodiversity across Sejero Bay, Samso Belt, the South Funen Archipelago, and the Great Belt, claimed to be the largest nature restoration initiative at sea in the country’s history. Led by the Harbor Nature Foundation, which allocated DKK 500 mln ($69 mln), the project will be carried out in collaboration with municipalities and local organisations. The areas targeted for restoration have faced degradation in recent years, mainly due to extensive stone fishing.
Simplification or deregulation – Over 250 activist organisations have signed a letter to the President of the European Commission Ursula von der Leyen urging action on rules that protect nature, climate, and social justice. They raised concerns about the risk that a drive to simplify procedures will result in the deregulation of environmental and human rights protections. “Unfortunately, we already see discrepancies between reassurances given and plans being laid out – often to a dangerous point,” said the letter, initiated by groups including Friends of the Earth Europe.
SCIENCE & TECH
Mining forests – The Australian government has been urged to reject a proposal from mining company South32 to expand operations, emphasising that biodiversity offsets were unacceptable. The plan would see “4,500 ha of jarrah forest, found nowhere else on Earth, destroyed for bauxite mining”, campaign group Wilderness Society said on Monday. This Western Australia forest type, a biodiversity hotspot, is known for its tall, open woodland in which the dominant overstory tree is jarrah. Initially approved before Christmas, the project would impact an additional 100,000 ha of land, an area over 50 times the size of Perth city.
Pine martens – A restoration project in the UK has achieved the target of increasing the pine marten population across the country in 10 years, BBC reported. Led by Vincent Wildlife Trust and Forestry and Land Scotland (FLS), the initiative saw over 100 individuals successfully translocated to Wales, Gloucestershire, and Devon. Once widespread in the UK, pine martens have been severely affected by hunting and deforestation over the past decades. “Reaching the milestone of translocating 100 pine martens in a decade is a fantastic example of what can be achieved through dedicated partnership and science-led conservation,” said Kenny Kortland, wildlife ecologist at FLS.
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