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about the Maps

Biodiversity Credits

Biodiversity credits are an emerging mechanism to quantify and track biodiversity conservation and preservation efforts and outcomes. A biodiversity credit is a unit that can be bought and sold, which represents a positive biodiversity outcome achieved by a nature-based solutions project registered under a biodiversity credit scheme or program that is based on scientifically derived and measurable metrics for biodiversity, and which is not used to offset an equivalent negative impact on biodiversity elsewhere. We include in this definition all unit types, including credits, certificates, tokens etc.

Voluntary biodiversity credit markets are increasingly recognised as one mechanism that can drive financing toward the protection, regeneration and stewardship of biodiversity, and close the biodiversity financing gap. For example, Target 19 of the UN’s 2022 Montreal-Kunming Global Biodiversity Framework (GBF) refers to biodiversity credits as a potential mechanism for mobilising financial resources globally.

Credits vs Offsets

There is an important distinction between biodiversity credits and biodiversity offsets. A biodiversity offset is a unit that can be bought and sold, which represents a positive biodiversity outcome achieved by a nature-based solutions project registered under a biodiversity offset scheme that is based on scientifically derived and measurable metrics for biodiversity, and which is used to offset an equivalent negative impact on biodiversity elsewhere arising from project development after appropriate prevention and mitigation measures have been taken in accordance with the mitigation hierarchy.

In contrast, biodiversity credit projects are intended to finance real gains for biodiversity that are not linked to negative impacts elsewhere. Such credits, for corporate buyers, represent efforts “beyond the value chain”.

Biodiversity Credit Programs

These maps include information regarding programs for the generation of voluntary biodiversity credits. Programs are, generally, the combination of an overarching standard and methodology (or methodologies) that set out the requirements for projects to generate biodiversity credits. Some programs also include, or are connected to, a registry where credits are issued, transferred and cancelled (or retired). Standards, methods and registries may be developed and administered by the same entity, or by different entities. In some cases, the standard- or methodology-setter is also developing credit-generating projects using the standard and/or methodology. Given the nascency of voluntary biodiversity credit markets globally programs are at different stages of establishment and some programs are not yet fully formed and/or lack clear and publicly available information on the program’s structure. To enhance visibility in these markets, this map takes a broad approach to what is included as a ‘program’ (and therefore represented on the map) and does not differentiate between standards, methodologies and registries at this time. As these markets develop, the map may be further refined to make these distinctions and connections clearer.

Our focus is on uplifting initiatives designed to finance real gains in biodiversity conservation and financing. For this reason, our map excludes compliance-based offsets programs. It also excludes carbon credit schemes with “co-benefits” (otherwise known as “charismatic carbon”) or carbon credit schemes that “staple” or attach a carbon credit or carbon unit to a biodiversity credit or unit.

Categories

There are three emerging directions for the biodiversity credit markets to develop: Indigenous-led initiatives under voluntary standards, private sector-led initiatives under voluntary standards and government-led initiatives under specific policy or legislation, or potential combinations thereof.

IP&LC-led Initiatives – By IP&LC-led, we mean IP&LC’s make the decisions. Sometimes this isn’t immediately clear on the face of publicly available information. To increase transparency and visibility for these initiatives, we have also included in this category initiatives where IPs and LCs have intellectual or cultural property rights in the program standard and / or methodology or where it is clear that these have been developed under a co-development or partnership model and the program has been designed to benefit or be used only by IP&LCs. We fully acknowledge that we might not get it right in every instance and we welcome any and all feedback on these maps and their categories.

There are currently few IP&LC-led biodiversity credit initiatives. It is anticipated that as the market matures, there will be growing demand for such initiatives. If you have another IP&LC-led initiative to add to these maps, we would love to hear from you.

Government-led Initiatives – Government led initiatives are those that are developed and implemented under government policy of legislation. They are typically administered by a government entity; however, this function may be delegation to another organisation.

The Australian and Niue Governments have established national voluntary biodiversity markets. India has a “Green Credit Programme” to complement its domestic Carbon Market. The Finnish, Scottish and New Zealand governments are investigating national voluntary biodiversity markets and are in varying stages of development and consultation.

Private Sector-led Initiatives – Private sector-led initiatives are are generally targeting corporates for uptake, with fewer schemes also directly targeting individual buyers.

Active vs Emerging Initiatives

We see ‘active’ initiatives as those that have established documentation (e.g., standard and methodology) with projects either in development or able to be registered under the initiative. Some of these active initiatives are already generating and selling credits – these are included in the first map on the main page. Other initiatives are still in the project registration and development stage but are not yet generating and selling credits. These initiatives have been included on the second map (though may still be considered ‘active’).

All other initiatives we have classified as ‘emerging initiatives’. These are initiatives where the documentation is still in development or consultation, or which are in the process of piloting their approach. These are also included in the second map and can be filtered according to the type of initiative.

Sources & Updates

These maps are updated using reputable public sources of information including but not limited to, Pollination and Bloom Labs. We also periodically reach out to the programs included in these maps to check for updates, which may be included in the information set out in the maps.

The maps are designed to be updated over time, so if you have anything to add or amend, please contact us using the button below.

In the future, we hope to add projects as well as schemes to demonstrate the increase in market activity.

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