Last Tuesday was a day of open-ended discussions between some of the main biodiversity market players. Bloom Labs' Simas Gradeckas was also invited to participate. There we discussed the next steps required to shape just and meaningful biodiversity credit markets, both at a voluntary and compliance levels. Thanks again to the organizers for providing a safe space for honest and respectful exchanges. It was a small but important next step in maturing these high-risk, high-reward markets.
🌍 Last week, Biodiversity Credit Alliance and the University of Nottingham held a 2nd Theory of Change Workshop in Geneva. The event was made possible with sponsorship from University of Nottingham under Integrating Finance and Biodiversity, CAF -banco de desarrollo de América Latina y el Caribe- and co-ordination support from Environmental Policy Innovation Center, all of whom also participated in the workshop. Bringing BCA Task Force, IEG (International Environmental Guardianship), development partners and key role players from the biodiversity and carbon sectors together, the goal was to collaboratively shape the future of the biodiversity credit market by evaluating priority aims and necessary actions. Some key aspects that were discussed, and that should become the focus of future work streams, included: 🤝 demand integrity ✅ claims and their usage ⚖️ re-empowerment of Indigenous Peoples and local communities 📈 financial sector engagement 📜 development of policies and standards to support the market A continued focus on long-term over short-term actions⏳ and defining the respective roles of BCA and its partner organizations 👥 also emerged as key priorities. The consensus is that the biodiversity credit market is approaching a new phase in its development, similar to where carbon markets were a decade or so ago, potentially putting biodiversity credits on the verge of exponential growth. In such a context it’s more important than ever to ensure the market is built on principles of high integrity, trust, transparency and fairness. Thanks to all who contributed and made this workshop possible. Bloom Labs, Carbone 4, Conservation International, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, Environment Bank, European Union, Green Finance Institute, ICROA, IETA, International Advisory Panel on Biodiversity Credits, International Institute for Environment and Development (IIED), LIFE Institute, NTT DATA, Plan Vivo Foundation, rePLANET, South Pole, Terrasos, UBS, United Nations Development Programme (UNDP), United Nations Environment Programme Finance Initiative (UNEP FI), VCMI, WBCSD – World Business Council for Sustainable Development, The World Bank, WWF
