Global credit markets framework for biodiversity launched at COP16

During the session on October 28 at COP16, the International Advisory Group on Biodiversity Credits (IAPB) presented its framework for high integrity markets of this type.

The initiative lays the foundations to take advantage of biodiversity credits, a funding mechanism to encourage much needed investment in nature conservation and restoration.

In addition to this, the IAPB also includes a series of pilot projects as a meaningful way to demonstrate the current market situation. and its development opportunities.

At an event held in Cali, the Group’s co-presidents, together with the Environment Ministers of France and the United Kingdom, They presented the project to an audience of experts and reporters from around the world.

“Biodiversity credits and markets can play an important role in channeling money to nature and its defenders and helping to halt biodiversity loss. That has been the mission of the IAPB, whose work is an important part of the implementation of Target 19 of the Global Biodiversity Framework,” said Lady Amelia Fawcett, Co-Chair of the IAPB.

On the other hand, ministers from nine countries They also spoke today about the need to increase financial means for initiatives that seek to reverse deforestation by 2030..

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That said, and referring to the Global Biodiversity Framework (GBF), in which The parties pledged to transfer US$200 billionit was confirmed that nearly US$30 billion would come from international funding to tackle climate change.

Therefore, one of the highlights of the event was to explore innovative financial mechanisms. Global debt, climate and nature experts met to present recommendations on how to support further credit enhancement for these issues, and how to resolve some of the ongoing obstacles to increasing fiscal space for investment in nature.

The Green Climate Fund, for example, announced its agreement to a defined policy that will permanently integrate REDD+ (Reduced Emissions from Deforestation and Forest Pollution) results-based payments into the regular cycle of projects Fund.

In particular, the price of US$ 8 per ton will increase by 60% compared to previous payments based on the REDD+ results provided by the GCF.

In the case of Colombia, there is an ambitious package on Sociological Mobility and Climate Actionwhich has 153 projects, aims to restore 372,000 hectares as part of a larger goal of restoring five million hectares by 2030.