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DAILY NEWS ANALYSIS
02 January, 2024
3 Min Read
There is an urgent need to regulate frameworks to ensure the effective implementation of biodiversity credits.
Kunming-Montreal Global Biodiversity Framework (KMGBF)
Aim - KMGBF aims to catalyze transformative action by governments, and subnational and local authorities, with the involvement of all of society, to halt and reverse biodiversity loss.
Biodiversity Credits
Biocredits are similar to carbon credits used to control greenhouse gas emissions.
Biodiversity Credit Alliance (BCA)
Implementation and Initiatives:
Ocean Conservation Commitments (OCCs): Launched in September 2023, OCCs are tied to Niue's Moana Mahu Marine Protected Area, covering 127,000 square kilometers.
Wallacea Trust: This UK-based organization focused on biodiversity and climate research has made substantial financial commitments, amounting to 5 million biodiversity credits. Their engagement signals a significant interest from research-oriented entities in utilizing biodiversity credits to support conservation efforts.
India Business & Biodiversity Initiative (IBBI): It serves as a national platform for businesses and its stakeholders for dialogue sharing and learning, ultimately leading to mainstreaming sustainable management of biological diversity into businesses. |
National Plan for Conservation of Aquatic Ecosystems (NPCA)
Source: downtoearth
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