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COP16
Trio releases high-level principles for biodiversity credit market
Three international organisations on Wednesday released a set of 21 high-level principles (HLPs) for biodiversity credits in a move designed to encourage the multitude of global market initiatives to align with a set of collective fundamentals.
BRIEFING: Whose fund is it anyway?
The thorny issue of who should manage global biodiversity funds, and how, has resurfaced at the ongoing COP16 in Colombia, with observers saying the ability of negotiators to find a compromise will have a major bearing on whether the talks will be able to move the implementation of the Global Biodiversity Framework (GBF) forward.
Nature tech market nears $2 bln as investments in biodiversity credits increase
Nature tech startups are projected to attract up to $2 billion in venture capital (VC) investments by the end of this year, with significant growth in early-stage involvement, particularly in the MRV and biodiversity credits category, according to data presented on Thursday at the COP16 UN biodiversity summit.
Fewer than one in 10 companies assess biodiversity dependencies, despite growing interest in nature reporting
Fewer than 10% of companies assessed their dependency on biodiversity last year, despite increasing attention to nature-related reporting following the Global Biodiversity Framework (GBF) agreement, according to a report released Wednesday.
Carbon registry launches biodiversity credit programme, kickstarts pilot phase
A carbon registry on Wednesday officially launched its biodiversity credit programme, inviting project developers to join its two-year pilot phase.
Colombian standard partners with local developer to scale biodiversity markets
A Colombia-based environmental standard has signed a Memorandum of Understanding (MoU) with a local project developer to explore biodiversity credit opportunities worldwide and test its methodology within different sites and ecosystems.
LATAM development bank invests in conservation via blockchain, biodiversity credits
CAF, the Development Bank of Latin America and the Caribbean, will collaborate on a blockchain-based conservation instrument and support marine biodiversity credits in the region, it announced at COP16 on Thursday.
More than half of organisations in survey say ready to enter biodiversity credit market
A UN-backed organisation has conducted a survey on the demand for biodiversity credits, with over half of participants claiming to be highly confident in their ability to participate in the fledgling market.
Mining a key driver of tree cover loss in tropical primary rainforests, Indigenous land -report
Mining has increased by 52% since the turn of the century due to surging demand for metals and minerals, exerting an outsized impact on tree cover loss in tropical primary rainforests and in Indigenous and local community territories, according to a new report by a non-profit.
Less than $1 mln of biodiversity credits purchased, BloombergNEF says
Under $1 million has been spent on purchasing biodiversity credits globally, despite surging supply, with the figure dwarfed by that of biodiversity offsets, BloombergNEF said in a report set to launch at conference COP16.
NGOs file complaint to UNEP for backing TNFD
A group of NGOs said Thursday they have filed a complaint to the UN Environmental Programme (UNEP), arguing that its backing of the Taskforce on Nature-related Financial Disclosures (TNFD) has undermined environmental stewards and rights holders.
Brazil’s mangrove carbon stock would be worth $8.7 bln as tradeable credits -study
If the entirety of Brazil’s blue carbon stock from mangroves were converted into tradeable tonnes of carbon, its value would total billions, as per an NGO study launched Thursday at COP16 in Cali, Colombia.
MARKET
Policy group sets out next steps for ‘compelling’ biodiversity credit markets
A US-headquartered group of conservation policy experts has laid out the next steps for the biodiversity credit market, to fulfil what it sees as significant potential, by preventing it from mirroring voluntary carbon markets.
TOOLS & GUIDANCE
World Bank channelling billions to industrial livestock farming -report
Development banks are funnelling billions of dollars annually into the expansion of factory farming linked to animals, capital that should instead go towards regenerative practices, according to analysis by a non-profit.
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BITE-SIZED UPDATES FROM AROUND THE WORLD
COP16
And then there were three – Uzbekistan has stepped forward, offering to host COP17 in 2026. The Central Asia and Eastern European region is set to hold the next biodiversity summit, and Uzbekistan’s candidacy comes in addition to previous offers from Armenia and Azerbaijan. Unless consensus is reached on which of them to host COP17 during the Cali talks, a vote will be held towards the end of next week to decide the winner.
Harmful subsidies – UNDP has launched guidance for countries to finance ambitious biodiversity goals by repurposing harmful subsidies. The BIOFIN Workbook 2024, launched on the sidelines of COP16, offers a roadmap to try to help nations tap into biodiversity financing. The methodology outlines critical areas for action such as redesigning harmful subsidies. A key update to its method is an expanded role for the private sector, disclosing nature impacts, while supporting nature positive investments.
Millions – Some 382 areas spanning more than a massive 10 mln ha could qualify as Other Effective area-based Conservation Measures (OECMs) in Indonesia, according to a report published this week in the Ocean & Coastal Management Journal. If the government chooses to pursue getting them registered, they would go a long way towards meeting the Southeast Asian country’s GBF commitments, according to the report.
Nature goal – A project that integrates football and sustainability, with the aim of establishing a local protected area, has been announced by Chile’s largest football club, Colo-Colo, and business group ISA Interchile. The Bioparque Conexion Puma initiative aims to make Colo-Colo the “first carbon neutral club in Latin America”, the club announced at COP16 on Thursday. It will reforest parts of the city, in collaboration with Reforestemos Foundation.
MARKET
Scottish BNG push – The Scottish government must accelerate its plans to improve the country’s biodiversity by adopting England’s BNG policy, campaign group Local Recovery has said. Other parts of the UK are ahead of the Scottishon the goal to halt biodiversity loss by 2030, it said in a press release. “Scotland risks slipping behind when it comes to protecting the natural world if the government fails to bring forward similar plans to accelerate biodiversity. Policies like BNG help attract private investment to protect nature, without costing the taxpayer a penny.”
BUSINESS & FINANCE
Geospatial datasets – PwC has launched a Nature Analytics service to help companies evaluate their nature-related impacts using company Natural Capital Research’s geospatial datasets, combined with PwC’s insight, a company director said on LinkedIn on Wednesday. “With nature risks rising, and nature-related regulatory demands growing, organisations need to understand both the value of nature to their business and the nature-related risks they’re exposed to,” PwC said.
TOOLS & GUIDANCE
Expenditure taxonomy – A taxonomy that categorises all potential public expenditures for biodiversity has been launched by UNDP’s BIOFIN initiative. The Excel sheet aims to show how much money is spent in a sector or on a theme, whether budgets are aligned with national policy priorities, and what the expenditures have achieved. The Global Biodiversity Expenditure Taxonomy shows “any expenditure whose purpose is to have a positive impact, or to reduce or eliminate pressures on biodiversity”.
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