rePLANET is developing a number of biodiversity credit-generating projects using a methodology developed by Wallacea Trust. The Wallacea Trust methodology is designed to quantify expected biodiversity benefits for projects aiming to increase or maintain biodiversity via restoration and/or protection interventions that have positive impacts on local livelihoods and ecosystems. Under the methodology, a Biodiversity Credit is defined … as a 1% uplift or avoided loss in biodiversity per hectare, as measured by the median percentage change in a basket of biodiversity metrics that together reflect the conservation objectives for the Project region.
The biodiversity credits will be issued by a third-party independent certification body. Currently rePLANET uses a Swiss based block chain system for issuance and retirement of biodiversity credits. with the Biodiversity Futures Initiative providing peer review scrutiny of claims, but it is expected that multiple ways in which verified biodiversity credits can be issued will be developed. Some of rePLANET’s projects are part of program pilots undertaken by other biodiversity crediting programs (e.g., Plan Vivo’s PV Nature program).
