During a debate among EU environment ministers on biodiversity loss, Member States appeared divided on Thursday 25 June in Luxembourg over the idea of nature credits, which are mechanisms intended to finance the protection and restoration of biodiversity.
French minister Monique Barbut was of the opinion that in order to stimulate demand for biodiversity credits, “it will be necessary to encourage a harmonised European framework that is compatible with national systems capable of combining voluntary and regulatory schemes”.
Finland said it had adopted national legislation establishing tradable biodiversity credits, based on measurable ecological results, which was a first in Europe. Romania supported the European roadmap and stressed the need to remunerate farmers and forest managers. Poland called for the market to be unlocked through public-private partnerships and innovative solutions.
A second group of Member States, including Estonia, Portugal, Austria, the Netherlands and Spain—while favourable in principle to nature credits—set strict conditions for their implementation. Estonia regards them as a relevant financing tool, but insists on a fair approach in order to avoid any distortion between stakeholders.
Some Member States expressed reservations, including Luxembourg, which is calling for strict safeguards to avoid any privatisation of ecological benefits. Others, such as Belgium, warned against perverse effects such as rising land prices, in addition to Latvia, Slovenia and Croatia also expressing reservations.
European Commissioner for Environment Jessika Roswall noted the launch by the European Commission of a roadmap aimed at developing a system of nature credits (see EUROPE 13675/8). The European Commission intends to favour an approach based on specific projects, with simple rules to allow the participation of small local actors, while guaranteeing transparency and investor confidence. Nature credits could become a new financing tool for ecological restoration in the European Union.
The Commissioner also reminded ministers that Member States are currently working on drawing up their draft national nature restoration plans, the first versions of which are expected in September. She also gave assurances that the European Commission would adopt a “pragmatic and flexible” approach in applying the European regulation on nature restoration. (Original version in French by Lionel Changeur)