New Voluntary Nature Credits Market Must Have Integrity
Press Release – Forest And Bird
Forest & Birds fear is that international and domestic investors including developers, oil, mining, and primary industry interests will engage in this market to cover up damage being caused to New Zealands vulnerable ecosystems and wildlife.
Forest & Bird cautiously welcomes today's government announcement on the development of a high integrity ' voluntary nature credits market ' in Aotearoa New Zealand.
Launched during the national Fieldays at Mystery Creek in Hamilton by Minister Hoggard, the news indicates the direction the Government is taking to establish a voluntary system that matches investors with conservation projects focused on protecting biodiversity and reducing carbon emissions.
As participation in this market is completely voluntary, it is separate from compulsory emissions trading systems (ETS) requirements and RMA offset regulations, which are tied to regulatory consenting processes.
'While we see this as a useful step, and it will help support people and organisations who wish to voluntarily invest in biodiversity, we have reservations that it could become a vehicle for offsetting environmental harm,' says Richard Capie, Forest & Bird's, Group Manager, Conservation Advocacy and Policy.
Forest & Bird's fear is that international and domestic investors – including developers, oil, mining, and primary industry interests – will engage in this market to cover up damage being caused to New Zealand's vulnerable ecosystems and wildlife.
'We're concerned they will use this market to 'greenwash' their public image,' says Mr Capie. 'We need to ensure that any external biodiversity incentive system has high integrity and is sustainable – that real, enduring outcomes for nature are achieved and it is not used to mask environmental damage.
'This new market should not undermine or replace government investment in nature, and it should bring additional resources to restore and protect our important flora and fauna. Ultimately, New Zealanders rightly expect government to look after our incredible wildlife and wild places and invest accordingly. Forest & Bird will be watching with interest to see how this develops.'
The Ministry for the Environment says that the intention of the new system is not to create a platform to offset effects on the environment, instead, the government wants to create a system where individuals or organisations can voluntarily invest in nature. This would come with assurances that their investment adheres to recognised standards developed through this new system. There will be guiding principles in place, one of the key principles being that any project must deliver additional benefits to the environment.
Nine pilot projects are already underway, all privately funded. However, the original intention of a voluntary nature credits market (or biodiversity credit system) was to sit alongside and compliment the National Policy Statement for Indigenous Biodiversity (NPSIB), so landowners could be appropriately compensated for looking after 'significant natural areas' (SNA's) on their property – supporting on-the-ground conservation, such as reforestation, wetland restoration, or planting native vegetation.
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