Biodiversity offsets are a form of conditional environmental financing. Like their more well-known cousin, carbon offsets, various parties (e.g. governments, companies or individuals) look to compensate the damage they cause in one location by benefitting bidoversity somewhere else.
Reducing Emissions from forest Degradation and Deforestation (REDD) is a policy measure for mitigating climate change caused by loss of carbon in forest ecosystems. It uses a carbon emissions-offsetting structure that places an economic value on the safeguarding of forest carbon stocks and provides an incentive for investment in sustainabiity.
At the UNFCCC conference in Poznan, Poland, negotiators reached a consensus that REDD activities should be broadened. The original two aims were to:
The Forest Carbon Partnership Facility is an initiative hosted by the World Bank and designed to assist ‘tropical and subtropical forest countries develop the systems and policies for REDD+’. REDD is an innovative market-based instrument designed to place value on standing forests and so reduce emissions from forest destruction and deforestation.
The FCPF has two main components:
Reducing Emissions from forest Degradation and Deforestation (REDD) is a measure for mitigating climate change caused by loss of carbon in forest ecosystems. It uses a carbon emissions-offsetting structure that places an economic value on the safeguarding of forest carbon stocks and provides an incentive for investment in sustainabiity. REDD has the potential to be an important mechanisms for climate change mitigation. The IPCC estimates that 17% of total greenhouse gas emissions are caused by deforestation.
The Rainforest Alliance Certified seal appears on products if the producers have complied with the standards set by the Sustainable Agriculture Network (SAN). These standards are predominantly environmental, however they also include social and economic aspects.
The SAN standards are guided by 10 principles, outlined below:
The International Standards Organisation has developed a series of standards that specify principles and requirements for organisations involved in greenhouse gas emission reporting. The ISO standards can be seen as guiding protocols providing general guidelines for the development of other programmes or standards.
The ISO standards relevant to GHG emissions are:
The Global Environment Fund is an investment firm deticated to the energy, environment and natural resource sectors and it is a signatory on the United Nations Principle for Responsible Investing. In it's pursuit of sustainability and well-placed capital, it works to uphold standards in three areas - these are:
The World Trade Organisation (WTO) Agreement on Technical Barriers to Trade (TBT) looks to limit the negative impact that some regulations and standards may have on free trade, while also allowing members the right to implement legitimate policy objectives including the protection of fauna and flora.
The overarching goal of the aggreement is therefore ensure that ‘unnecessary obstacles to trade’ are avoided. Such obstacles may include:
The Strategic Climate Fund (SCF) is one of two Climate Investment Funds administered by Multilateral Development Banks (MDBs) and is designed to fund and pilot ‘new approaches with potential for scaled-up, transformational action aimed at a specific climate change challenge or sectoral response’.
The MDBs involved are: African Development Bank; Asian Development Bank; European Bank for Reconstruction and Development; Inter-American Development Bank; World Bank Group. In total the SCF commands a budget of US$ 1.9 billion and invests this through 3 targeted programmes: