Pisupati Balakrishna’s Post

Thank you Frederic Hache for not only sharing your well-elaborated and valid 𝐛𝐢𝐨𝐝𝐢𝐯𝐞𝐫𝐬𝐢𝐭𝐲 𝐜𝐫𝐞𝐝𝐢𝐭 𝐜𝐨𝐧𝐜𝐞𝐫𝐧𝐬, but also providing the reference in Carbon Pulse to the still ongoing(!) ICF led, Perspectives Climate Group assisted, Survey / Poll that is accessible at: https://lnkd.in/e8dNt_5T .Note that this is NOT a mandatory EU Better Regulation* survey -  "Have Your Say: Public Consultations and Feedback portal "available on https://lnkd.in/e8ncQhhp, but an EC contracted Consultant's work channeled into European Commission's preparatory work related to forthcoming regulations  (* Better Regulation explained: https://lnkd.in/ebk2X825). So 𝐢𝐭 𝐢𝐬 𝐮𝐩 𝐭𝐨 𝐮𝐬 , 𝐬𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬, 𝐭𝐨 𝐬𝐚𝐲 𝐰𝐡𝐚𝐭 𝐰𝐞 𝐭𝐡𝐢𝐧𝐤! Let me add my own observation to those promoting biodiversity credits: the US Clean Water Act is a compensatory mitigation program, which is the most extensive and longest-running environmental offsetting program in the world focused on US #wetlands operating since 1995. A 2022 study** "found that the wetland area gains appear insufficient to compensate for the wetland area losses regulated within the program. This makes it unlikely that 𝐭𝐡𝐞 𝐩𝐫𝐨𝐠𝐫𝐚𝐦 𝐰𝐢𝐥𝐥 𝐚𝐜𝐡𝐢𝐞𝐯𝐞 𝐢𝐭𝐬 𝐞𝐧𝐯𝐢𝐫𝐨𝐧𝐦𝐞𝐧𝐭𝐚𝐥 𝐠𝐨𝐚𝐥𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐥𝐨𝐧𝐠 𝐭𝐞𝐫𝐦." ( ** -> https://lnkd.in/eCzmKJfQ ) Therefore, we better & first learn from past lessons instead of pushing ahead with commodification - as opposed to regulating access/use - of nature. If I am not mistaken, Frederic Hache recently spotted that one of the key initiatives promoting biodiversity credits has an expert group with 20 individuals and only one of them is an ecologist/biologist. We can and we must be better than this when it comes to protecting & restoring nature!

EU commissioned consultants on biodiversity credits repeat almost word for word private lobbies' lie that "the #biodiversity credit market already exists, so we have almost no choice but to support it. What we can do is guide it in the right direction." In reality, there is a very long way until an EU biodiversity market exists, including intractable environmental integrity/liquidity trade-offs, no appetite from corporate buyers, and a future public backlash once people realise that credits will be used as offsets. Such lies and biased framings do not help democracy ahead of EU elections. https://lnkd.in/ejjfJUA8

⚡️At #COP16Colombia, governments have pledged an additional $163 million to the Global Biodiversity Framework Fund (#GBFF), providing new targeted support for our planet's #biodiversity. 🔗: https://lnkd.in/dV4XAWwT This funding will help developing countries implement the Kunming-Montreal Global Biodiversity Framework (#KMGBF), strengthening #biodiversity management, policy, governance & resource mobilization. Global Environment Facility

Biodiversity markets took center stage at #COP16Colombia. One of the highlights was the International Advisory Panel on Biodiversity Credits launching their Framework for high integrity biodiversity credit markets. This framework outlines actionable recommendations to ensure biodiversity markets grow responsibly and effectively - developed collaboratively with a range of key stakeholders including corporates, financial institutions, local communities, NGO's and academics. But what does a good biodiversity credit market look like? The report highlights the need for frameworks & directives that ensure verified outcomes, measurable additionality and for local-to-local and like-for-like solutions - putting local communities and landowners at the centre of stewardship. Explore the key messages & download the full report here: https://lnkd.in/emsATgDU #naturalcapital #sustainableinvestment #BNG #regenerativeagriculture #naturepositive

Implementing biodiversity considerations is crucial in developing a holistic legal framework for the Sustainable Development Goals. Many thanks to the University of Cambridge for the last two weeks filled with insights and new perspectives from leading experts. #Biodiversity #SDGs

Environment officials from the member states of the Association of Southeast Asian Nations (ASEAN) joined some 15,000 delegates representing over 190 countries in the 16th Meeting of the Conference of the Parties to the Convention on Biological Diversity (CBD COP 16), the biggest global dialogue on biodiversity. Composed of 10 member states, ASEAN recently adopted its own biodiversity framework called the ASEAN Biodiversity Plan (ABP). Read the full story here ▶️ https://lnkd.in/gchFFQy6 #WeAreASEANBiodiversity #aseancentreforbiodiversity #COP16Colombia #ASEANatCOP16

The UNDP introduces a new guide to assist countries in reducing financial practices that harm biodiversity. 🔗 Read more here: https://lnkd.in/gGafFaiv #Biodiversity #SustainableFinance #UNDP #NaturePositive

This article addresses the price of voluntary biodiversity credits in the EU vs developing countries. What it doesn't address is integrity. Biodiversity credits are cheaper in Africa and Latin America, and there are some great projects going on - but we must tread carefully. Considering the negative media attention surrounding the airline industry regarding ineffective carbon offsets, we can see that integrity is vital to the success of nature markets. For those of you who don't yet know, nature markets mobilise private finance for sustainable farming and nature recovery. We can no longer rely solely on government funding. In a nutshell, nature needs private finance. It needs corporations to invest. The UK is setting the bar high. We need integrity for nature to win. We need stringent measures in place and we need positive results. These attributes exist in UK nature markets. My hope is for a global standard where all countries can offer biodiversity gains with integrity - because at the end of the day, nature must win worldwide. Nature restoration however, can't wait for governments to act and thankfully the private sector is already taking the reigns. The government has set a goal to grow annual private investment flows to nature to at least £500 million every year by 2027 in England, rising to more than £1 billion by 2030. My position here at the South Downs National Park Authority is funded by NEIRF III, with the intention of introducing Voluntary Biodiversity Credits to the UK's private sector. I also provide guidance on BNG, Carbon, and Nutrient Neutrality. As always, if you have any questions or comments, I'm always open to chat. #VoluntaryBiodiversityCredits #VBC #BNG #30by30 #Carbon #NN #NatureMarkets #SDNPA #SouthDowns #Biodiversity #NatureRecovery #NEIRF

A report looking at alignment and the differences between recent initiatives on #BiodiversityDisclosure has been developed by our colleagues in the EU Business and Biodiversity Platform in collaboration with consultancy Arcadis. It covers six major #biodiversity disclosure initiatives, three of which are regulatory (#CSRD – #ESRS E4, #SFDR, French Article 29) and three which are voluntary approaches - the #TNFD, #GRI, #CDP - aiming to creating a solid guide through the ‘alphabet soup’ of new approaches which businesses have to choose from as they figure out how best to report their nature impacts and dependencies 🌱 Read more on our blog: https://lnkd.in/ep63kN_r

The issue of financing is obviously crucial to halt and reverse the degradation of biodiversity. The Global Biodiversity Framework has set clear objectives: by 2030, we need to reduce harmful subsidies by $500 billion/y and mobilise $200 billion/y of finance from all sources for biodiversity, including $30 billion in development finance. An interim target of $20 billion has been set for 2025. According to the latest OECD report, development finance for biodiversity reached $15.4 billion in 2022. While multilateral funding (World Bank, African Development Bank, European Investment Bank, etc.) represents the major part of this funding, the vertical funds dedicated to biodiversity - the Global Environment Facility (GEF) and the newly created Global Biodiversity Framework Fund (GBFF) under the GEF - account for only a small share. However, the multilateral negotiations are focused on these multilateral funds. They indeed have a strategic role to play and raise a lot of expectations. In this paper, my colleague Juliette Landry 兰朱莉 reviews the functions and principles that one can expect from these funds, in order to invite the international community to clarify their expectations and to use these funds as a transformative lever. https://lnkd.in/eK6WXctQ #COP16 #biodiversity #biodiversityfinance #GEF