Finland to be first EU nation to set up voluntary biodiversity credit framework
Finland has become the first EU member state to announce plans to develop a framework for companies to invest in voluntary biodiversity credits that go beyond existing environmental offsetting provisions, in a bid to encourage companies to take nature action.
Read MoreCOP16: Governments pledge $165 mln to GBF Fund
Eight governments on Monday pledged a total $163 million in new funding for the Global Biodiversity Framework Fund (GBFF), taking the total amount committed to the fund to just below $400 mln, less than 2% of what developed nations have promised to contribute by the end of next year.
Read MoreCOP16: Air New Zealand first to pay into nature token pilot
National carrier Air New Zealand has become the first to pay into a nature-positive co-financing pilot that seeks to channel funds to community restoration initiatives on cyclone-ravaged Maori land.
Read MoreCOP16: Almost 4 of every 10 tree species threatened, major assessment finds
Almost 40% of tree species covered by the first Global Tree Assessment released Monday were found to be at risk of extinction, with species at risk in 192 countries worldwide.
Read MoreCOP16: Philanthropies put over $50 mln on table for high-seas MPAs
A group of major philanthropies on Monday announced they will contribute $51.7 million towards creating marine protected areas (MPAs) in international waters under the UN High Seas Treaty.
Read MoreCOP16: ANALYSIS – Cali talks hang in balance as nations struggle to advance toughest issues
Negotiators at the UN biodiversity summit in Cali scored some minor victories during the first half of the talks, but all the major issues remain deadlocked and will likely need ministers to put real money on the table next week to be resolved, according to experts.
Read MoreCOP16: 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.
Read MoreCOP16: 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.
Read MoreDeveloper hands biodiversity crediting scheme to independent administrator
Australia’s GreenCollar will hand its NaturePlus biodiversity crediting scheme to Accounting for Nature, in early 2025, for independent administration in a bid to enhance credibility and lay the foundations for market growth.
Read MoreSwedish platform sees first commercial biodiversity credit transaction
A Swedish exchange offering trade in biodiversity credits on Tuesday announced its first transaction, with a sales and marketing firm picking up units from the protection of an 11-hectare forest area for five years.
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