Water and biodiversity credits should be integrated into voluntary carbon markets: Singapore president

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Eco-Business 2d ago

Water and biodiversity credits should be integrated into voluntary carbon markets: Singapore president - Eco-Business

Quick Summary:

Developing the credit markets will address a funding gap for nature-based solutions, said Tharman Shanmugaratnam.

His proposal faced pushback from other panellists at the World Economic Forum who cautioned against commodifying nature.

Shanmugaratnam was also responding to fellow panellists who raised doubts about whether the use of such market-based solutions to attract private capital would lead to “perverse outcomes”, much like how carbon credits have faced criticisms over their integrity.