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TWN
Info Service on Biodiversity and Traditional Knowledge (Mar24/08) Key aspects that make biodiversity offsets and credits problematic for protecting biodiversity We are pleased to share a new TWN Briefing Paper on ‘Biodiversity offsets and credits: Key aspects that make them problematic for protecting biodiversity’. Biodiversity offsets and credits are market-based approaches that are identified in the Kunming-Montreal Global Biodiversity Framework as one of a number of “innovative schemes” that should be stimulated to increase financial resources for biodiversity. Biodiversity offsets allow private actors to compensate for their actions that cause biodiversity loss, by paying for biodiversity conservation. Although the definition of biodiversity credits is still in progress, in principle, it is expected that they would enable investments in conservation and not be used for offsetting purposes, although it remains unclear how this would be enforced. However, a series of aspects need to be considered before adopting these mechanisms. This briefing paper outlines the most problematic aspects related to biodiversity offsets and credits, which question their effectiveness in protecting biodiversity and the communities who safeguard and depend directly on nature. With best wishes, Third World Network
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