{"id":29042,"date":"2024-12-28T05:21:01","date_gmt":"2024-12-27T23:51:01","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=29042"},"modified":"2025-04-09T00:04:36","modified_gmt":"2025-04-08T18:34:36","slug":"biodiversity-credits","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/biodiversity-credits\/","title":{"rendered":"Biodiversity Credits"},"content":{"rendered":"<h2><strong>What are Biodiversity Credits?<\/strong><\/h2>\n<ul>\n<li><strong>Definition: <\/strong>A <strong>biodiversity credit<\/strong> is a <strong>verifiable, quantifiable, and tradeable financial certificate<\/strong> rewarding <strong>positive biodiversity outcomes<\/strong>, such as the conservation or restoration of <strong>species, ecosystems, and natural habitats<\/strong>.<\/li>\n<li><strong>Biodiversity Credits (Biocredits)<\/strong> are gaining attention as a mechanism to finance biodiversity conservation and achieve the targets under the <strong>Kunming-Montreal Global Biodiversity Framework (KMGBF)<\/strong>.<\/li>\n<li>The KMGBF, established during the <strong>15th Conference of Parties (CoP15)<\/strong> of the <strong>Convention on Biological Diversity (CBD)<\/strong>, aims to promote <strong>biodiversity conservation, sustainable use of natural resources<\/strong>, and <strong>equitable benefit-sharing<\/strong>.<\/li>\n<li><strong>Key features:<\/strong> It represents a <strong>specific amount of land<\/strong> or marine habitat conserved or restored over a fixed period.\n<ul>\n<li>Credits are <strong>generated by non-profits, governments, landowners, or companies<\/strong> and sold to <strong>private entities<\/strong> to fulfill biodiversity commitments.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Examples of Biodiversity Credit Schemes:Terrasos<\/strong>, <strong>GreenCollar<\/strong>, <strong>ValueNature<\/strong>, <strong>CreditNature<\/strong>, <strong>Wilderlands<\/strong>.<\/li>\n<li><strong>Market Overview:<\/strong>\n<ul>\n<li><strong>Current Market Value:<\/strong> Estimated at <strong>$8 million<\/strong> (World Economic Forum).<\/li>\n<li><strong>Future Projections:<\/strong> Expected to grow to <strong>$2 billion by 2030<\/strong> and <strong>$69 billion by 2050<\/strong>.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong>Biodiversity Credit Alliance (BCA)<\/strong><\/p>\n<ul>\n<li><strong>Purpose:<\/strong> A voluntary international alliance supporting the implementation of the <strong>Kunming-Montreal Global Biodiversity Framework<\/strong>.\n<ul>\n<li>Focuses on <strong>Targets 19(c) and 19(d)<\/strong> of the frameworks.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Targets under KMGBF:<\/strong>\n<ul>\n<li><strong>Target 19(c):<\/strong> Businesses must monitor, assess, and disclose their <strong>biodiversity risks, dependencies, and impacts<\/strong>.<\/li>\n<li><strong>Target 19(d):<\/strong> Businesses must provide consumers with information to encourage <strong>sustainable consumption patterns<\/strong>.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Mission:<\/strong> Develop a <strong>biodiversity credit market<\/strong> with <strong>science-based principles<\/strong> to guide conservation efforts.<\/li>\n<li><strong>Governance:<\/strong>\n<ul>\n<li><strong>Secretariat:<\/strong> Facilitated by <strong>UNDP<\/strong> and <strong>UNEP Finance Initiative (UNEP FI)<\/strong>.<\/li>\n<li><strong>BCA Task Force:<\/strong> Decision-making body comprising <strong>methodology developers, standard setters, academic institutions<\/strong>, and representatives from <strong>Indigenous Peoples and Local Communities<\/strong> (via the Communities Advisory Panel).<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<hr \/>\n<h3>Q1: What is the Green Credit Programme (GCP)?<\/h3>\n<p>The Green Credit Programme (GCP) is an initiative promoting environmental sustainability by incentivizing eco-friendly actions through tradable credits, encouraging industries, organizations, and individuals to adopt practices that support conservation, restoration, and sustainable resource management.<\/p>\n<p><strong>Source: <\/strong><a href=\"https:\/\/www.downtoearth.org.in\/wildlife-biodiversity\/biodiversity-credit-markets-show-promise-but-face-deep-uncertainties-new-study-warns\" target=\"_blank\" rel=\"nofollow noopener\"><strong>DTE<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A biodiversity credit is a verifiable, quantifiable, and tradeable financial certificate rewarding positive biodiversity outcomes, such as the conservation or restoration of species, ecosystems, and natural habitats.<\/p>\n","protected":false},"author":5,"featured_media":29043,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-29042","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/29042","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=29042"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/29042\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/29043"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=29042"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=29042"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=29042"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}