Biodiversity Impact Credit

Last updated

A Biodiversity Impact Credit (BIC) is a transferable biodiversity credit designed to reduce global species extinction risk. The underlying BIC metric, developed by Queen Mary University of London, is given by a simple formula that quantifies the positive and negative effects that interventions in nature have on the mean long-term survival probability of species. [1] In particular, an organisation's global footprint in terms of BICs can be computed from PDF-based biodiversity footprints. [1] The metric is broadly applicable across taxa (taxonomic groups) and ecosystems. Organisations whose overall biodiversity impact is positive in terms of the BIC metric contribute to achieving the objective of the Global Biodiversity Framework to "significantly reduce extinction risk".

Contents

Use of BICs by businesses has been recommended by the Task Force on Nature-related Financial Disclosures [2] and the first provider of BICs for sale is Botanic Gardens Conservation International (BGCI). The credits are generated by BGCI's international member organisations by rebuilding the populations of tree species at high risk of extinction under the IUCN red list methodology. [3]

Theory

Definition

Users of BICs distinguish between the metric's scientific definition and how metric values are estimated through methodologies and approximations suitable for particular contexts. This mirrors the situation with carbon credits, which are designed to quantify avoidance or reductions of atmospheric carbon dioxide load but in practice are estimated using a broad variety of context-specific methodologies. [4] [5]

For a given taxonomic or functional group of species, let be a measure of the current global population size of the th species. This can be measured, e.g., by the number of mature individuals or population biomass, in some cases even by the number of colonies, whichever approximates total reproductive value [6] well. Denote by the change in the global population of species resulting from a specific intervention in nature. The corresponding Biodiversity Impact Credits are then given by [1]

where denotes the population size of species at which environmental and demographic stochasticity are of the same magnitude.

Calculation

Depending on the kind of intervention, the system affected and the available data, a variety of methods is available to estimate BICs. [1] Since typical values of lie in the range of 1 to 100 adult individuals, the contribution of in the definition above is often negligibly small compared to . The formula then simplifies to

In projects that aiming to rebuild the population of a single endangered species , the term associated with that species will often dominate the sum in the formula above so that it simplifies further to

When a species restoration project has increased the population of a species by an amount that is much larger than the original population (and ) and no comparable increases in the population of that species have occurred elsewhere, then the species' current population is nearly identical to the increase of the population achieved. In this case, the formula above simplifies to

For use over large areas, approximations expressing BICs in terms of Range Size Rarity, [7] Potentially Disappearing Fraction (PDF) of species, [8] [9] or combinations thereof are available. [1] In particular, an organisation's global footprint in terms of BICs can be computed from PDF-based biodiversity footprints. [1]

Interpretation

As a simple interpretation, the BIC metric measures the equivalent number of endangered species whose populations have been restored or (for negative BIC) the number of species that should be restored to achieve net zero biodiversity impact. This follows from above approximation that BIC = 1 for the restoration of a single threatened species. [1]

However, the BIC metric goes beyond simply counting the number of threatened species that have been restored. It takes into account that decline or recovery of a species can be the result of many small impacts by different actors and attributes both positive and negative credits accordingly. Specifically, it is constructed such that, according to a simple model, BIC > 0 implies that the underlying intervention or combination of interventions leads to a reduction of mean long-term global species extinction risk for the taxonomic or functional group considered. [1] According to the same model, a perfect market for BICs would lead to near-optimal allocation of resources to long-term species conservation. [1]

Compatibility with other standards

The BIC metric aligns with other globally-recognised biodiversity measures such as the Range Size Rarity, the Species Threat Abatement and Recovery Metric (START) by IUCN/TNFD, and the Ecosystem Damage Metric underlying the Biodiversity Footprint for Financial Institutions (BFFI). [1]

Biodiversity Impact Credits in practice

Rationale

The search for standardised systems to quantify biodiversity impacts has gained momentum in light of the accelerating rates of biodiveristy loss worldwide. Traditional biodiversity conservation efforts can lack scalability and are hard to measure: Improving one area of land or river has a different impact on local biodiversity from improving another, so their impacts are difficult to compare. BICs were developed with the aim to simplify assessments of biodiversity change by focusing on reducing species' extinction risks. The 2022 United Nations Biodiversity Conference emphasised the importance of global collaboration to halt biodiversity loss, marking the adoption of the Kunming-Montreal Global Biodiversity Framework (GBF). BICs are designed to address Target 4 of this framework ("to halt extinction of known threatened species ... and significantly reduce extinction risk" and Target 15: "[Take measures] to ensure that large transnational companies and financial institutions [...] transparently disclose their risks, dependencies and impacts on biodiversity ... in order to progressively reduce negative impacts." [10]

The Task Force on Nature-related Financial Disclosures via their LEAP methodology recommends use of BICs to quantify impacts on species extinction risk in version 1.1 of their disclosure recommendations. The BIC methodology was one of four recognised metrics for assessing extinction risk. [2] : 221 

Trees are at the base of the ecological pyramid. Countless species rely on native trees for survival, including fungi, lichen, insects, birds and other vertebrates. [11] Repopulating native tree species improves local biodiversity, [12] helps prevents soil erosion, [13] conserves water and helps cools the planet [14] as well as being a carbon store. [15]

BGCI developed the GlobalTreeSearch database which is the only comprehensive, geo-referenced list of all the world's c.60,000 tree species. [16] Working with the International Union for Conservation of Nature (IUCN) they then produced the Global Tree Assessment which concluded that more than 17,500 tree species (c.30%) are threatened with extinction. [17] Finally, BGCI's Global Tree Conservation Program is the only global programme dedicated to saving the world's threatened tree species. [18] Even before BICs were are launched, over 400 rare and threatened tree species had already been conserved in over 50 countries. [19]

Implementation

One of the critical components of the BIC system is that it is being driven by conservation organisations like BGCI and their international network of members, and backed by theoretical analyses by Queen Mary University London. [1] These organisations provide the practical know-how and decades of experience in species conservation, focusing particularly on native trees which play a pivotal role in local ecosystems. BGCI is now mediating issuance of transferable BIC certificates to organisations who sponsor tree conservation projects by BGCI member organisations. [20] The BIC system has been designed for easy adoption and scalability. [1] This is crucial for engaging financial institutions and other large corporations that require streamlined, global, comparable, and straightforward metrics to set their sustainability goals. [21] The BGCI unveiled their Global Biodiversity Standard at the 2021 United Nations Climate Change Conference – a global biodiversity accreditation framework. [22] BICs are due to be formally launched in early 2024. [20]

Controversy

Biodiversity credits have been criticised by some who say that putting a monetary value on nature is wrong. Others say that they are always bought to offset damage to nature. [23] In England from 2024 the government is aiming for a net gain in biodiversity, [24] but it is not yet known how successful these rules to make builders compensate for nature loss will be. [25]

Related Research Articles

<span class="mw-page-title-main">Holocene extinction</span> Ongoing extinction event caused by human activity

The Holocene extinction, or Anthropocene extinction, is the ongoing extinction event caused by humans during the Holocene epoch. These extinctions span numerous families of plants and animals, including mammals, birds, reptiles, amphibians, fish, and invertebrates, and affecting not just terrestrial species but also large sectors of marine life. With widespread degradation of biodiversity hotspots, such as coral reefs and rainforests, as well as other areas, the vast majority of these extinctions are thought to be undocumented, as the species are undiscovered at the time of their extinction, which goes unrecorded. The current rate of extinction of species is estimated at 100 to 1,000 times higher than natural background extinction rates and is increasing. During the past 100–200 years, biodiversity loss and species extinction have accelerated, to the point that most conservation biologists now believe that human activity has either produced a period of mass extinction, or is on the cusp of doing so. As such, after the "Big Five" mass extinctions, the Holocene extinction event has also been referred to as the sixth mass extinction or sixth extinction; given the recent recognition of the Capitanian mass extinction, the term seventh mass extinction has also been proposed for the Holocene extinction event.

<span class="mw-page-title-main">Biodiversity</span> Variety and variability of life forms

Biodiversity or biological diversity is the variety and variability of life on Earth. Biodiversity is a measure of variation at the genetic, species, and ecosystem levels. Biodiversity is not distributed evenly on Earth; it is usually greater in the tropics as a result of the warm climate and high primary productivity in the region near the equator. Tropical forest ecosystems cover less than 10% of Earth's terrestrial surface and contain about 50% of the world's species. There are latitudinal gradients in species diversity for both marine and terrestrial taxa. Marine coastal biodiversity is highest globally speaking in the Western Pacific ocean steered mainly by the higher surface temperatures. In all oceans across the planet, marine species diversity peaks in the mid-latitudinal zones. Terrestrial species threatened with mass extinction can be observed in exceptionally dense regional biodiversity hotspots, with high levels of species endemism under threat. There are 36 such hotspot regions which require the world's attention in order to secure global biodiversity.

<span class="mw-page-title-main">Natural capital</span> Worlds stock of natural resources

Natural capital is the world's stock of natural resources, which includes geology, soils, air, water and all living organisms. Some natural capital assets provide people with free goods and services, often called ecosystem services. All of these underpin our economy and society, and thus make human life possible.

<span class="mw-page-title-main">Resource depletion</span> Depletion of natural organic and inorganic resources

Resource depletion is the consumption of a resource faster than it can be replenished. Natural resources are commonly divided between renewable resources and non-renewable resources. The use of either of these forms of resources beyond their rate of replacement is considered to be resource depletion. The value of a resource is a direct result of its availability in nature and the cost of extracting the resource. The more a resource is depleted the more the value of the resource increases. There are several types of resource depletion, including but not limited to: mining for fossil fuels and minerals, deforestation, pollution or contamination of resources, wetland and ecosystem degradation, soil erosion, overconsumption, aquifer depletion, and the excessive or unnecessary use of resources. Resource depletion is most commonly used in reference to farming, fishing, mining, water usage, and the consumption of fossil fuels. Depletion of wildlife populations is called defaunation.

Conservation status is a measure used in conservation biology to assess an ecoregion's degree of habitat alteration and habitat conservation. It is used to set priorities for conservation.

<span class="mw-page-title-main">Conservation biology</span> Study of threats to biological diversity

Conservation biology is the study of the conservation of nature and of Earth's biodiversity with the aim of protecting species, their habitats, and ecosystems from excessive rates of extinction and the erosion of biotic interactions. It is an interdisciplinary subject drawing on natural and social sciences, and the practice of natural resource management.

The ecological footprint measures human demand on natural capital, i.e. the quantity of nature it takes to support people and their economies. It tracks human demand on nature through an ecological accounting system. The accounts contrast the biologically productive area people use to satisfy their consumption to the biologically productive area available within a region, nation, or the world (biocapacity). Biocapacity is the productive area that can regenerate what people demand from nature. Therefore, the metric is a measure of human impact on the environment. As Ecological Footprint accounts measure to what extent human activities operate within the means of our planet, they are a central metric for sustainability.

<span class="mw-page-title-main">Threatened species</span> IUCN conservation category

A threatened species is any species which is vulnerable to extinction in the near future. Species that are threatened are sometimes characterised by the population dynamics measure of critical depensation, a mathematical measure of biomass related to population growth rate. This quantitative metric is one method of evaluating the degree of endangerment without direct reference to human activity.

<span class="mw-page-title-main">Human impact on the environment</span> Impact of human life on Earth and environment

Human impact on the environment refers to changes to biophysical environments and to ecosystems, biodiversity, and natural resources caused directly or indirectly by humans. Modifying the environment to fit the needs of society is causing severe effects including global warming, environmental degradation, mass extinction and biodiversity loss, ecological crisis, and ecological collapse. Some human activities that cause damage to the environment on a global scale include population growth, neoliberal economic policies and rapid economic growth, overconsumption, overexploitation, pollution, and deforestation. Some of the problems, including global warming and biodiversity loss, have been proposed as representing catastrophic risks to the survival of the human species.

<span class="mw-page-title-main">Conservation in New Zealand</span>

Conservation in New Zealand has a history associated with both Māori and Europeans. Both groups of people caused a loss of species and both altered their behaviour to a degree after realising their effect on indigenous flora and fauna.

A rare species is a group of organisms that are very uncommon, scarce, or infrequently encountered. This designation may be applied to either a plant or animal taxon, and is distinct from the term endangered or threatened. Designation of a rare species may be made by an official body, such as a national government, state, or province. The term more commonly appears without reference to specific criteria. The International Union for Conservation of Nature does not normally make such designations, but may use the term in scientific discussion.

<span class="mw-page-title-main">Extinction risk from climate change</span> Risk of plant or animal species becoming extinct due to climate change

There are several plausible pathways that could lead to an increased extinction risk from climate change. Every plant and animal species has evolved to exist within a certain ecological niche. But climate change leads to changes of temperature and average weather patterns. These changes can push climatic conditions outside of the species' niche, and ultimately render it extinct. Normally, species faced with changing conditions can either adapt in place through microevolution or move to another habitat with suitable conditions. However, the speed of recent climate change is very fast. Due to this rapid change, for example cold-blooded animals may struggle to find a suitable habitat within 50 km of their current location at the end of this century.

<span class="mw-page-title-main">Botanic Gardens Conservation International</span> Plant conservation charity

Botanic Gardens Conservation International (BGCI) is a plant conservation charity based in Kew, Surrey, England. It is a membership organisation, working with 800 botanic gardens in 118 countries, whose combined work forms the world's largest plant conservation network.

<span class="mw-page-title-main">Deforestation in Nigeria</span>

Deforestation in Nigeria refers to the extensive and rapid clearing of forests within the borders of Nigeria. This environmental issue has significant impacts on both local and global scales.

<span class="mw-page-title-main">Effects of climate change on plant biodiversity</span>

There is an ongoing decline in plant biodiversity, just like there is ongoing biodiversity loss for many other life forms. One of the causes for this decline is climate change. Environmental conditions play a key role in defining the function and geographic distributions of plants. Therefore, when environmental conditions change, this can result in changes to biodiversity. The effects of climate change on plant biodiversity can be predicted by using various models, for example bioclimatic models.

<span class="mw-page-title-main">Endangered species</span> Species of organisms facing a very high risk of extinction

An endangered species is a species that is very likely to become extinct in the near future, either worldwide or in a particular political jurisdiction. Endangered species may be at risk due to factors such as habitat loss, poaching, and invasive species. The International Union for Conservation of Nature (IUCN) Red List lists the global conservation status of many species, and various other agencies assess the status of species within particular areas. Many nations have laws that protect conservation-reliant species which, for example, forbid hunting, restrict land development, or create protected areas. Some endangered species are the target of extensive conservation efforts such as captive breeding and habitat restoration.

<span class="mw-page-title-main">Environmental issues</span> Concerns and policies regarding the biophysical environment

Environmental issues are disruptions in the usual function of ecosystems. Further, these issues can be caused by humans or they can be natural. These issues are considered serious when the ecosystem cannot recover in the present situation, and catastrophic if the ecosystem is projected to certainly collapse.

At the global scale sustainability and environmental management involves managing the oceans, freshwater systems, land and atmosphere, according to sustainability principles.

The Natural Forest Standard (NFS) is a voluntary carbon standard designed specifically for medium- to large-scale REDD+ projects. The standard places equal emphasis on the combined carbon, social and biodiversity benefits of a project and requires a holistic approach to ensure compliance with the standards requirements and to achieve certification. The NFS applies a standardised risk-based approach to carbon quantification for consistent and comparable baseline calculations and aims to link local actions into national frameworks for reducing the loss of natural forests.

<span class="mw-page-title-main">Biodiversity loss</span> Extinction of species or loss of species in a given habitat

Biodiversity loss happens when plant or animal species disappear completely from Earth (extinction) or when there is a decrease or disappearance of species in a specific area. Biodiversity loss means that there is a reduction in biological diversity in a given area. The decrease can be temporary or permanent. It is temporary if the damage that led to the loss is reversible in time, for example through ecological restoration. If this is not possible, then the decrease is permanent. The cause of most of the biodiversity loss is, generally speaking, human activities that push the planetary boundaries too far. These activities include habitat destruction and land use intensification. Further problem areas are air and water pollution, over-exploitation, invasive species and climate change.

References

  1. 1 2 3 4 5 6 7 8 9 10 11 12 Rossberg, Axel G.; O'Sullivan, Jacob D.; Malysheva, Svetlana; Shnerb, Nadav M. (20 March 2023), A metric for tradable biodiversity credits linked to the Living Planet Index and global species conservation, arXiv: 2111.03867
  2. 1 2 TNFD (2023). Guidance on the identification and assessment of nature- related issues: The LEAP approach version 1.1 (PDF). Taskforce on Nature-related Financial Disclosures. p. 221.
  3. ↑ "Biodiversity Credits – Tree Conservation Fund" . Retrieved 7 April 2024.
  4. ↑ van der Gaast, Wytze; Sikkema, Richard; Vohrer, Moriz (2 January 2018). "The contribution of forest carbon credit projects to addressing the climate change challenge". Climate Policy. 18 (1): 42–48. doi: 10.1080/14693062.2016.1242056 . ISSN   1469-3062 . Retrieved 20 March 2024.
  5. ↑ Freeman, Olivia E.; Zerriffi, Hisham (16 December 2014). "How You Count Carbon Matters: Implications of Differing Cookstove Carbon Credit Methodologies for Climate and Development Cobenefits". Environmental Science & Technology. 48 (24): 14112–14120. doi:10.1021/es503941u. ISSN   0013-936X . Retrieved 20 March 2024.
  6. ↑ Engen, Steinar; Lande, Russell; Saether, Bernt-Erik; Dobson, F. Stephen (2009). "Reproductive value and the stochastic demography of age-structured populations". The American Naturalist. 174 (6): 795–804. doi:10.1086/647930. PMID   19842946. S2CID   10455292.
  7. ↑ Williams, Paul; Gibbons, David; Margules, Chris; Rebelo, Anthony; Humphries, Chris; Pressey, Robert (1996). "A comparison of richness hotspots, rarity hotspots, and complementary areas for conserving diversity of British birds". Conservation Biology. 10 (1): 155–174. Bibcode:1996ConBi..10..155W. doi:10.1046/j.1523-1739.1996.10010155.x. ISSN   1523-1739.
  8. ↑ Müller-Wenk, Ruedi (1998). Land use - the main threat to species: how to include land use in LCA. St. Gallen: Institut für Wirtschaft und Ökologie, Universität St. Gallen (IWÖ-HSG). ISBN   978-3-906502-66-3.
  9. ↑ Goedkoop, Mark; Spriensma, R. (17 April 2000). The Eco-Indicator 99: A Damage Oriented Method for Life Cycle Impact Assessment. Amersfoort, The Netherlands: PRé Consultants B.V.
  10. ↑ "2030 Targets (with Guidance Notes)". Convention on Biological Diversity. 21 September 2023. Retrieved 31 October 2023.
  11. ↑ "Ecological implications of oak decline in Great Britain". Forest Research. Retrieved 10 January 2024.
  12. ↑ Manning, Adrian D.; Fischer, Joern; Lindenmayer, David B. (1 October 2006). "Scattered trees are keystone structures – Implications for conservation". Biological Conservation. 132 (3): 311–321. Bibcode:2006BCons.132..311M. doi:10.1016/j.biocon.2006.04.023. ISSN   0006-3207 . Retrieved 10 January 2024.
  13. ↑ Zuazo, Vı́ctor Hugo Durán; Pleguezuelo, Carmen Rocı́o Rodríguez (2009). "Soil-Erosion and Runoff Prevention by Plant Covers: A Review". In Eric Lichtfouse; Mireille Navarrete; Philippe Debaeke; Souchere Véronique; Caroline Alberola (eds.). Sustainable Agriculture. Dordrecht: Springer Netherlands. pp. 785–811. doi:10.1007/978-90-481-2666-8_48. ISBN   978-90-481-2666-8 . Retrieved 10 January 2024.
  14. ↑ Abdallah, F.; Chaieb, M. (2012). "The influence of trees on nutrients, water, light availability and understorey vegetation in an arid environment". Applied Vegetation Science. 15 (4): 501–512. Bibcode:2012AppVS..15..501A. doi:10.1111/j.1654-109X.2012.01201.x. ISSN   1654-109X . Retrieved 10 January 2024.
  15. ↑ Sedjo, Roger; Sohngen, Brent (1 August 2012). "Carbon Sequestration in Forests and Soils". Annual Review of Resource Economics. 4: 127–144. doi:10.1146/annurev-resource-083110-115941. ISSN   1941-1340 . Retrieved 3 April 2024.
  16. ↑ "GlobalTreeSearch". Botanic Gardens Conservation International. Retrieved 12 February 2024.
  17. ↑ EPIC. "Global Tree Assessment". Botanic Gardens Conservation International. Retrieved 12 February 2024.
  18. ↑ EPIC. "BGCI's Tree Conservation Programme". Botanic Gardens Conservation International. Retrieved 12 February 2024.
  19. ↑ BGCI; FFI (2021). Securing a Future for the World's Threatened Trees – A Global Challenge. Richmond, UK: Botanic Gardens Conservation International.
  20. 1 2 Reklev, Stian (12 June 2023). "Conservation charity lines up massive project pipeline for biodiversity market". Carbon Pulse. Retrieved 14 January 2024.
  21. ↑ TNFD (2021). Proposed Technical Scope—Recommendations for the TNFD. Taskforce on Nature-related Financial Disclosures.
  22. ↑ Sharrock, Suzanne; Smith, Paul (2022). "Introducing the Global Biodiversity Standard". BGjournal. 19 (1): 3.
  23. ↑ Chandrasekhar, Aruna; Goodman, Joe (27 September 2023). "In-depth Q&A: What are 'biodiversity offsets'?". Carbon Brief . Retrieved 15 February 2024.
  24. ↑ "Understanding biodiversity net gain". GOV.UK. 12 February 2024. Retrieved 15 February 2024.
  25. ↑ Weston, Phoebe (12 February 2024). "England brings in biodiversity rules to force builders to compensate for loss of nature". The Guardian. ISSN   0261-3077 . Retrieved 15 February 2024.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.