Navigating the Uncertainties of Biodiversity Credits: Greenwashing?

The push for an international market for biodiversity credits, akin to a "Paris Agreement for nature," has gained momentum, led by countries like France and the United Kingdom. However, skepticism arises as questions of greenwashing echo criticisms faced by the carbon offset market.

Proponents seek to distinguish biodiversity credits from their carbon counterparts, emphasising their potential to fund positive projects rather than merely offsetting harm. Yet, critics warn of the lack of clear definitions and regulations, expressing concerns about potential exploitation and a weak business case for purchasing nature credits at scale without offsetting. The market is compared to selling guns not for shooting or marijuana not for smoking, highlighting the need for oversight and rules governing biodiversity credits' use and claims. The current narrative raises questions about the feasibility of a market trading system without defined standards.

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