March 7, 2024
(press release)
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There’s a lot of talk about biodiversity in the corporate climate sphere, and for good reason. Global biodiversity is declining rapidly. “We’re in the middle of the Sixth Mass Extinction,” says Dick Cameron, Pachama’s VP of Science. “This one is the only one driven by human activity and the drivers of that loss are relatively well understood — climate change, pollution, and habitat loss are global impacts on biodiversity. In certain places, over-harvesting and invasive species are affecting native populations.” On average, relative to 1970, we’ve seen a 69% decline in monitored populations. “That’s just mind-blowing,” says Cameron. “It really brings home the challenge that we’re in and the need to act.” Biodiversity offers significant advantages to society beyond the intrinsic value of wild ecosystems, including crucial benefits like pollination, storm attenuation, and much more. Fortunately, we are seeing a widespread increase in engagement on biodiversity concerns. A number of multilateral organizations, NGOs, and now private companies are stepping up to address biodiversity loss. This is partly driven by a newfound pressure from various corporate voluntary disclosure frameworks with a focus on nature and biodiversity, including the Taskforce on Nature-related Financial Disclosures (TNFD), the European Union’s Corporate Sustainability Reporting Directive (CSRD) and the Science-Based Targets Network’s targets for nature. In this article, we outline what companies need to know to initiate biodiversity initiatives effectively. The first step to addressing the biodiversity crisis is to quantify the scale of the problem. There are a number of ways to do that. One sophisticated biodiversity measurement tool is the IBAT, or Integrated Biodiversity Assessment Tool, a web-based mapping and reporting tool that gives companies access to critical biodiversity information. IBAT can help inform corporate biodiversity strategies through: Specifically, IBAT’s Species Threat Abatement and Restoration Metric (STAR) is a biodiversity metric that identifies a project’s potential to reduce species extinction risk through conservation and restoration. Many companies invest in forest carbon projects for their carbon sequestration benefits. But beyond their carbon benefits, forest carbon projects also provide habitat for native flora and fauna, increase or maintain habitat connectivity, improve or maintain soil, water, and air quality, support regional climate benefits, and improve human health and well-being. Forest carbon projects provide biodiversity advantages, including: However, not all carbon projects provide the same biodiversity benefits. For example, a reforestation project that plants just a single non-native species will typically provide far less value than a natural forest with many native species. How can companies identify projects with a high biodiversity value? Here’s what to look for. Conservation projects, which aim to protect forests from planned or unplanned deforestation, are a critical tool in combatting biodiversity loss. If you’re investing in conservation projects, maximize your biodiversity impact by looking for projects that: Are located in an area with high deforestation risk. If an intact forest is surrounded by threatened forest, the case for additionality is clear. Investing in threatened forests provides ongoing climate benefits. If you’re investing in ARR (afforestation, reforestation, and restoration) projects, maximize biodiversity results by selecting projects that: Ultimately, the best forest carbon projects prioritize three outcomes: climate, community, and biodiversity. These three critical factors are intricately linked, which means that optimizing even for just one of these factors will also help you maximize the benefits of other factors. If you’re looking to invest in projects with a positive impact on biodiversity, Pachama can help. Our high-quality forest carbon projects undergo a rigorous evaluation process. We integrate IBAT’s STAR scores, biodiversity data, and maps of protected areas to provide a comprehensive understanding of the conservation and restoration value of projects.What is biodiversity and why does it matter?
How is biodiversity measured?
Biodiversity and carbon markets
What buyers should look for in conservation projects
What buyers should look for in reforestation projects
Three critical outcomes for forest carbon projects
Achieve your biodiversity goals with Pachama
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