(ANSA) – ROME, APR 28 – The European Commission is committed to developing a market for “nature credits” to boost investment and bridge the financing gap for nature conservation, Environment Commissioner Jessika Roswall confirmed while hosting a roundtable in Brussels on incentives to reward those who protect the environment and financially support the green transition.
The roundtable brought together representatives from the United Nations Development Programme (UNDP), the World Economic Forum, agricultural and forestry bodies such as Copa-Cogeca, NGOs like WWF, the financial sector, and academia.
The Commissioner acknowledged that the current demand for nature credits is low, but Brussels believes there is “significant growth potential” that would lead to an increase in market demand.
“The EU could significantly help bridge the biodiversity financing gap by tapping into this demand,” the Commissioner added.
Participants stressed the need to prevent greenwashing, ensure transparency, reduce risks, structure the market and foster its expansion (both on the supply and demand sides), recognize the role of agriculture and forestry, learn from carbon credit market experiences, and acknowledge local and regional diversity.
Much like the EU carbon emissions trading market, the idea of creating credits to economically stimulate nature protection was first mooted by European Commission President Ursula von der Leyen during her speech at the Nature Conference in Munich last September.
#IMCAP “Co-funded by the European Union. However, the views expressed belong solely to the author(s) and do not necessarily reflect those of the European Union. Neither the European Union nor the granting authority can be held responsible.” (ANSA).
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The roundtable brought together representatives from the United Nations Development Programme (UNDP), the World Economic Forum, agricultural and forestry bodies such as Copa-Cogeca, NGOs like WWF, the financial sector, and academia.
The Commissioner acknowledged that the current demand for nature credits is low, but Brussels believes there is “significant growth potential” that would lead to an increase in market demand.
“The EU could significantly help bridge the biodiversity financing gap by tapping into this demand,” the Commissioner added.
Participants stressed the need to prevent greenwashing, ensure transparency, reduce risks, structure the market and foster its expansion (both on the supply and demand sides), recognize the role of agriculture and forestry, learn from carbon credit market experiences, and acknowledge local and regional diversity.
Much like the EU carbon emissions trading market, the idea of creating credits to economically stimulate nature protection was first mooted by European Commission President Ursula von der Leyen during her speech at the Nature Conference in Munich last September.
#IMCAP “Co-funded by the European Union. However, the views expressed belong solely to the author(s) and do not necessarily reflect those of the European Union. Neither the European Union nor the granting authority can be held responsible.” (ANSA).
Read article…
