Biodiversity credit initiatives face rising scrutiny, scepticism

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Eco-Business 18h ago

Biodiversity credit initiatives face rising scrutiny, scepticism - Eco-Business

Quick Summary:

In recent years, biodiversity credit projects and the methods to calculate their value have proliferated, seen by some as a way to finance the US$700 billion gap in conservation funding identified in the 2022 Global Biodiversity Framework.

In late October 2024, the project certifier Verra launched its framework for its version of biodiversity credits, which it calls “Nature Credits.” Verra uses indicators to determine an ecosystem’s health and how it’s changing over time.

Two of the most prominent certification bodies in the voluntary carbon market, U.K.-based Plan Vivo Foundation and Switzerland-based Gold Standard, are using an open-source method for biodiversity credits developed by the Wallacea Trust, a U.K.-based charity focused on biodiversity.