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.
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