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TOP STORY
World Economic Forum to launch buyers club for biodiversity credits
The World Economic Forum (WEF) is putting together a buyers club for biodiversity credits to be launched early next year with several major companies already signed up ahead of what is planned to be a pilot auction to be held at an undecided date next year.
BUSINESS & FINANCE
Business group announces campaign for nature-positive strategies
A campaign to encourage businesses and financial institutions worldwide to submit nature-related strategies has been announced by Business for Nature.
Nature remains niche in sustainable finance market but room for growth, report finds
Investments in nature still make up only a minor part of the sustainable finance market, though their share of the ESG bond market is increasing and there is growth potential for carbon credits with nature-based co-benefits as well as in the emerging biocredit market, according to new analysis.
Biodiversity net gain needed for Europe, says energy investment boss
A renewable energy investment outfit is already achieving biodiversity net gain as a result of the UK’s compliance scheme, but they want a similar process across the European continent, according to the company’s chief investment officer.
Global investor rolls out biodiversity strategy
A London-headquartered global investment firm this week launched a biodiversity strategy, eyeing four themes in particular that offer investment opportunities while addressing nature loss.
Nature funders join forces on biodiversity, climate change
The Prince Albert II of Monaco Foundation (FPA2) and impact fund Una Terra Venture Capital Fund have formed a comprehensive partnership that will focus on climate change mitigation, biodiversity restoration, and ocean conservation, they announced.
TOOLS & GUIDANCE
Scenario modelling can reduce costs of ecosystem resilience activities, says European research initiative
A Europe-wide biodiversity research initiative has called for more integration of scenario planning of ecosystem threats to support transparency and assist with financial cost decisions.
POLICY
Australian govt to begin consulting on EPBC reforms
The Australian government has brought forward consultation on its overhaul of the country’s environmental laws, which observers hope will create vast improvements on the way climate and biodiversity issues are handled.
Stakeholders dissatisfied with EU taxonomy biodiversity criteria, ex-EU advisor says
People involved with developing the EU’s list of sustainable activities are unhappy with how it has addressed biodiversity so far, the ex-biodiversity lead for influential advisory group Platform on Sustainable Finance (PSF) has said.
PROJECTS
Canada, Nova Scotia to launch C$28.5 mln nature conservation, protection programme
Canada’s federal government and Nova Scotia have announced a C$28.5 million ($21 mln) programme that will run over three years to conserve and protect biodiversity, habitat, and species at risk across the province.
MARKET
Down to earth – A collection of Canadian financial and food firms on Tuesday launched a new alliance to slash emissions from the country’s agri-food sector by 2050, with the group hoping that helping improve soil carbon measurement and reporting will help achieve the goal. The Canadian Alliance for Net-Zero Agri-food (CANZA) aims to remove 150 MtCO2e from agriculture by mid-century, with the group’s first two initiatives consisting of helping farmers develop climate smart agricultural practices and creating a national biodigester network. (Carbon Pulse)
BUSINESS & FINANCE
Hopping on – The Finance for Biodiversity (FfB) Foundation this week announced another 14 institutions had signed its FfB pledge, taking the total to 153 signatories from 24 countries, representing €21.4 trillion in assets under management. The latest newcomers were Agriculture Capital, AkademikerPension, Alternative Bank Switzerland, Colibri Catalyst, Cooperatie VGZ U.A., Deutsche Kreditbank AG (DKB), Ekobanken medlemsbank, NextEnergy Capital, Pensioenfonds Rail & Openbaar Vervoer, Raiffeisen KAG, SEB Investment Management, VP Capital, Yapi ve Kredi Bankasi, and Zencap Asset Management. Signatories commit to protect and restore biodiversity through their finance activities and investments.
Amazon drill – Brazil’s state-run oil company Petrobras expects to do exploratory drilling next year near the mouth of the Amazon River, along the coast of the state of Amapa, Chief Executive Jean Paul Prates said on Wednesday. The region is part of Brazil’s Equatorial Margin, an area that Petrobras considers its most promising new frontier for oil and gas exploration. Petrobras currently lacks the greenlight from environmental protection agency Ibama to explore the area, but Prates said he expects Petrobras will be drilling off Amapa in the first half of 2024. Drilling in the region is a controversial topic in Brazil due to the region’s biodiversity and proximity to the Amazon rainforest. (Reuters)
Good as gold – Launched by the International Olympic Committee (IOC) in Sep. 2022, the Olympic Forest Network is adding an ambitious ecological restoration project in India’s eastern state of Odisha – an area with one of the largest populations of tribal communities and home to a wealth of biodiversity and endangered species. Led by the Odisha Forest Department, the Abhinav Bindra Foundation Trust and The Habitats Trust, and driven by IOC Athletes’ Commission member and Olympic champion Abhinav Bindra, the Odisha Ridley Forest initiative aims to plant one million trees over an area covering 1,500 hectares. (CSR Wire)
Nature’s lottery – A new scratchcard is being launched to raise funds to protect French wildlife and increase awareness about its challenges. Just 43 cents from each €3 card goes to directly the Office francais de la biodiversite. Overall the initiative hopes to raise €6.45m, which more than 60 charities are already vying for. Prospective winners of the lotto have a chance to win up to €30,000, according to Connexion France.
POLICY
Preparing to spend – Ireland on Tuesday announced a €3 bln ‘war chest’ for climate action and nature regeneration as part of its national budget. The new Climate and Nature Fund is to safeguard spending in these areas against competing demands from other sectors in the event of an economic downturn. Nature projects were likely to include programmes to improve water quality in rivers and lakes and the removal of barriers to natural flows and fish movements, as well as the reintroduction of more lost species similar to the schemes for eagles and ospreys, reported the Irish Independent.
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