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TOP STORY

Over 80% of rich countries fail to meet fair share of biodiversity financing target, report shows

Only two out of 28 rich countries have allocated what is estimated as their fair share of the resources for biodiversity required under the Global Biodiversity Framework (GBF), while over 80% of them provided less than half of it, according to a report released Thursday.

MARKET

OBC launches survey on biodiversity certificate claims to drive corporate demand

The Organisation for Biodiversity Certificates (OBC) has launched a survey to gather views on the claims that companies can make when buying biodiversity credits, as the organisation expects more clarity will have a significant impact on corporate demand.

Indigenous-led organisation says communities want to explore biodiversity credits

An Indigenous-led organisation has released guidelines to mobilise funding for First Nations’ nature conservation efforts in Canada, with biodiversity credits among the financing mechanisms that should be explored.

BUSINESS & FINANCE

UBS invests in impact data provider to advance nature-related disclosures

Swiss bank UBS has invested in impact data and analytics provider GIST Impact to back its expansion, with a focus on bolstering support for nature-related corporate disclosures among companies and investors.

US foundation allocates over $33 mln to restore longleaf pine forests

A US-headquartered foundation has announced the allocation of $33.5 million in grants to finance the conservation and restoration of longleaf pine forests in eight southern states.

Recycling shifts focus away from effective ways to tackle plastic crisis -report

Industry promotion of recycling through instruments like plastic credits distracts from the urgent need to reduce overall production, with less than 10% of plastic recycled globally, according to a sustainable finance think-tank.

TOOLS & GUIDANCE

TNFD, ESRS release joint guidelines on corporate reporting

The Taskforce on Nature-related Financial Disclosures (TNFD) and the European Sustainability Reporting Standards (ESRS) released Thursday joint guidelines to support companies in their nature-related disclosures, highlighting the alignment between the two frameworks.

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BITE-SIZED UPDATES FROM AROUND THE WORLD

MARKET

Go-ahead – A large REDD voluntary carbon project that will span 4 mln ha has been given the go-ahead by the government of Mozambique. BioCarbon Partners (BCP) expects to launch the Greater Limpopo REDD+ Project (GLRP) in the third quarter as part of the project developer’s plan to protect biodiversity-rich areas across over 10 mln ha by the end of this year. The developer is also assessing another large-scale project in Angola’s Cubango region. The GLRP will include a blend of state, private, and community land, developed in partnership with Italian energy company Eni and the Peace Parks Foundation, an African conservation body. (Carbon Pulse)

Alignment – Verra has signed an agreement with the Malaysia Forest Fund (MFF) to support the alignment of the Southeast Asia nation’s forestry carbon initiatives with its Verified Carbon Standard (VCS). Under the Memorandum of Understanding (MoU), MFF and Verra will seek to make sure future forestry projects using the fund’s Forest Conservation Certificate (FCC) and Forest Carbon Offset (FCO) standards will meet requirements of Verra’s VCS Program, Verra said in an announcement Thursday. Activities under the MoU will include Verra sharing general knowledge about how its registry works, the VCS Program requirements, VCS methodology development, and Verra’s review processes. (Carbon Pulse)

BUSINESS & FINANCE

Water stewardship – Standard developer SCS Global Services has announced a new certification programme for water stewardship and resiliency. The certification, which can be applied to organisations of all sizes worldwide, will enable them to measure baseline water performance, set measurable targets, demonstrate water stewardship and resiliency practices, and monitor progress over the years, SCS Global Services said.

High winds – A 400 MW wind farm in Australia has been granted an environmental permit, despite concerns about its potential impact on nature, Renew Economy reported. The Gawara Baya wind farm is being developed near Ingham, Queensland, by renewable energy developer Windlab. The approval was announced by Australia’s Minister for the Environment and Water, Tanya Plibersek, and comes with specific conditions aimed at minimising environmental impacts. Some conservation groups have expressed concerns over the wind farm’s potential effects on critical habitats for koalas, northern greater gliders, and red goshawks. In response to these concerns, Windlab said that it has reduced the project’s size to half its original footprint.

POLICY

Badlands – The Colombian minister of environment has released a map of soil degradation driven by desertification in the country. Results showed that 10.7% of the national territory is degraded due to moderate desertification, while 26.7% of lands are currently arid, semi-arid, and sub-humid dry lands. The map will serve as a starting point for developing a national study of soil degradation due to desertification that will be released next year, the director of environmental, sectoral, and urban affairs of the ministry of the environment said.

Reappointed – Carlos Manuel Rodriguez has been reappointed as the CEO and chair of the Global Environment Facility (GEF) for a second four-year term through 2028, following an election by 32 Council members representing the GEF’s 186 member countries. Prior to taking on the role of GEF CEO in 2020, Rodriguez served three terms as Costa Rica’s Minister of Environment and Energy.

SCIENCE & TECH

Long live the lynx – The conservation status of the Iberian lynx has improved from ‘endangered’ to ‘vulnerable’, according to the IUCN Red List of Threatened Species, as the population increased to 648 mature individuals in 2022, up from 62 in 2001. The IUCN said the total population, including young and mature lynx, is estimated to be more than 2,000. “This is the greatest recovery of a cat species ever achieved through conservation,” said Francisco Javier Salcedo Ortiz, coordinator of the LIFE Lynx-Connect project. However, the Iberian lynx remains threatened, IUCN added in a press release.

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