The International Advisory Panel on Biodiversity Credits will bring together the latest science, data, technology, knowledge and experience from IPLCs, and market developments to help shape nature markets and increase and accelerate investment in nature in a way that delivers for people and the planet.
Nature and biodiversity are currently in crisis. The loss of nature inherently threatens national economies, food and water security, climate goals and the livelihoods of people. Action must be taken at all levels to move towards a nature positive economy - and this fact is beginning to gain momentum at the global level, notably through the adoption of the Kunming-Montreal Global Biodiversity Framework (KMGBF).
There is an urgent need to align global financial flows to nature positive outcomes and increase financing for nature on a global scale. The KMGBF calls for a substantial increase in the mobilisation of public and private resources to close the nature finance gap. It also calls for all public and private financial actors to work together, using a range of financial instruments, to deliver these goals. Developing innovative solutions and markets that unlock investment for nature is a crucial piece of the puzzle.
There is an opportunity in Biodiversity Credits to unlock significant financial flows - but we must include all stakeholders, especially Indigenous Peoples and local communities, and work together with governments to ensure that nature markets deliver for nature, climate and people.
The independent Panel, co-Chaired by Dame Amelia Fawcett and Sylvie Goulard, is a global multidisciplinary group composed of over 20 diverse and experienced individuals. They come from finance and industry, NGOs, and indigenous peoples and local communities (IPLCs).
A series of working groups is being set up to take forward key design challenges, namely Measurement, Supply, Demand, Stewardship and Governance, as well as a Knowledge Group. As with the Panel, the working groups will have a balanced membership across geographies and will include Panel members and external stakeholders, including countries, market and sector actors, and IPLCs.
Following the agreement of the ambitious Kunming-Montreal Global Biodiversity Framework (KMGBF) at COP15, there has been a burst of global activity focussed on deepening nature markets to help close the biodiversity financing gap.
The deliberations at the One Forest Summit in March 2023 argued that to close the financing gap, it is necessary to facilitate thecreation and growth of markets for high-integrity biodiversity credits, both voluntary and mandatory, in a credible, timely and internationally consistent manner.
This can only work if these credits have measurable positive impacts on biodiversity and equitable outcomes at both national and local levels, particularly for indigenous peoples and local communities.
Therefore, at the Summit for a New Global Financing Pact in Paris, the UK and French governments launched the Global Roadmap to Harness Biodiversity Credits for the Benefit of People and Planet' (the "Roadmap") to facilitate the creation and growth of high-integrity biodiversity credit markets, and encourage enabling policy and regulatory mechanisms, in ways that are credible, timely, and coherent on an international level.
The International Advisory Panel on Biodiversity Credits has been established to lead this process.
The Secretariat for the Panel is staffed by government officials on loan from the French and British Environment and Finance Ministries.