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COP16
Money takes centre stage as nature talks open in Colombia
Delegates from nearly 200 nations on Monday began two weeks of talks on how to implement the 2022 Global Biodiversity Framework (GBF), with questions around how to raise more funds to reverse nature loss and from who quickly taking centre stage.
Colombia eyes regulated carbon, biodiversity markets to meet nature financing targets under updated NBSAP
Colombia plans to rely on regulated carbon and biodiversity credit markets to meet its financing targets under its newly released National Biodiversity Strategy and Action Plan (NBSAP), government officials told Carbon Pulse at the ongoing COP16 UN biodiversity summit.
INTERVIEW – Integrated nature, climate finance must look beyond carbon storage
Market-based financing for nature and climate must take a whole-ecosystem approach, looking past carbon sequestration potential to effectively address the two crises, an NGO policy expert has told Carbon Pulse on the sidelines of COP16.
BCA to launch digital framework for improving biodiversity credit markets transparency
UN-backed Biodiversity Credits Alliance (BCA) announced on Monday it is about to launch a digital framework to enhance transparency in the nascent voluntary biodiversity market, amid pressing concerns over how to guarantee Indigenous peoples’ sovereignty over data.
Mining threats to ecosystems are growing, report says
Oil, gas, and mining industries pose growing threats to critical ecosystems in the Amazon Basin, Congo Basin, and Southeast Asia, a report has found.
Bloomberg, tech nonprofit expand nature conservation tracker to cover land
The Bloomberg Ocean Initiative, together with conservation technology NGO SkyTruth, on Tuesday announced an expansion of SkyTruth’s 30×30 Progress Tracker at COP16.
Collective announces nature tech taxonomy
A system for navigating nature-related technologies will be announced on Tuesday by two collaborating initiatives at biodiversity conference COP16, Carbon Pulse has learned.
Biodiversity credits to be a major distraction at COP16, non-profits warn
A global non-profit has warned that the voluntary biodiversity market could be a big distraction for governments during the upcoming COP16 UN biodiversity summit, as global leaders need to prioritise public commitments to plug the financial gap on nature.
MARKET
ANALYSIS: Nature Repair Market needs govt investment, greater transparency, submissions say
Australia’s Nature Repair Market (NRM) rules need greater transparency and additionality assurances to increase investor confidence, while the government must lead investment in order help support its fundamentals, stakeholders have urged.
African biodiversity credit market needs fair prices and regulations to scale, report says
The biodiversity credit space in Africa could evolve from a small-scale market to a ‘nature economy superpower’ if clear regulations and fair prices are implemented, as progress in monitoring and transparency are proving the continent’s potential, a Swiss-headquartered non-profit said.
Biodiversity credits could be core part of corporate nature strategies, WEF says
Companies could procure biodiversity credits, or other instruments, as part of their nature strategies, the World Economic Forum (WEF) said in a report published Monday.
WWF releases conditions for voluntary biodiversity credits market
WWF on Monday released the conditions it requires for it to be able to potentially endorse the sale of voluntary biodiversity credits, including no offsetting.
POLICY
Mexican state announces “comprehensive” nature credits strategy
The Mexican state of Colima has committed to supporting a nature crediting programme spearheaded by a French restoration company.
All articles in this edition are free to read (no subscription required). However, as of Oct. 24 we will require that all Biodiversity Pulse readers have a Carbon Pulse login to access our nature and biodiversity content in full. To get a login, sign up for a free trial of our news. If you’ve already had a trial, then you already have a login.
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BITE-SIZED UPDATES FROM AROUND THE WORLD
COP16
Putting the gender in GBF – The Convention on Biological Diversity Women’s Caucus presented its demands for gender-responsive implementation of the GBF during a session at COP16 on Monday. The group asked for human rights-based biodiversity finance, Indigenous women as direct beneficiaries of new financial sources, and a gender-responsive mechanism for reporting, it said in a press release. The initiative represents female voices from more than 100 countries.
MARKET
Blue carbon study – Japan’s Tokio Marine Asset Management plans to launch a study group to promote biodiversity and blue carbon through collaboration with several companies including Idemitsu Kosan and Mitsui OSK Lines, it announced Friday. The companies will exchange opinions on several topics, such as the services that contribute to the expansion of the blue carbon market and mechanisms that can increase the added value of such sinks. Earlier this year, Tokio Marine announced plans to generate TNFD-aligned voluntary biodiversity credits.
EU call – Private investments in nature-based solutions (NbS) must be urgently ramped up, Gilles Doignon, head of biodiversity at the EU Commission, said during a panel at the ongoing COP16 UN biodiversity summit in Cali, Colombia. “We should stop wasting time on the definition [of NbS]. We need to implement, implement, implement,” he said. Doignon argued that the key to scaling private financing is providing companies with the evidence that investments in NbS can be profitable. “If you tell me that this could work, and if I invest €1 mln, I will save €2 mln, I will do it,” he added. The EU Commission invested over €660 mln in NbS through its Horizon 2020 and Horizon Europe research and innovation funding programmes.
BUSINESS & FINANCE
Lagging behind – Italian network Etifor released on Tuesday a report on biodiversity and the private sector in the country, finding that 33% of 71 surveyed companies disclose their impacts and dependencies on nature, and just 19% follow the required European Sustainability Reporting Standards (ESRS) under the EU’s Corporate Sustainability Reporting Directive (CSRD). Etifor also encouraged companies to increase their investments in biodiversity credits. Currently, only 4.5% of respondents operates in the voluntary market. In June, the network launched a national initiative to steer companies and financial institutions in integrating biodiversity into decision making.
POLICY
Fur-ry good – The Humane Society International celebrated a “monumental victory” for animal protection on Tuesday as the Romanian Parliament voted to ban fur farming of chinchillas and mink, the last industries of their kind in the country. The decision follows almost two years of political debates and campaigning by animal rights groups, Humane Society said in a press release. Millions of animals suffer each year in battery cages due to the the global fur trade, it said.
SCIENCE & TECH
Fish fingers – Marine protected areas (MPA) can supply up to 14% of global nutrients, underscoring their importance for human health, said a study published in One Earth by WWF and two US universities. Climate change and marine habitat destruction have made it difficult for some communities to sustain their livelihoods. MPAs that allow for regulated fishing and sustainable tourism can impact locals’ nutritional intake, the study said.
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