Global biodiversity offsetting doesn’t work – keep schemes local, say experts

Voluntary standards proposed at Cop16 focus on local like-for-like habitat projects, while critics call the issue a ‘distraction’

International biodiversity offsetting “doesn’t work”, according to experts aiming to create a nature market that avoids the pitfalls of carbon offsets.

The biodiversity sector has been circling the idea of a credits market that would allow companies to finance restoration and preservation of biodiversity, deliver “net-positive” gains for nature, and help plug the $700bn (£540bn) funding gap.

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Global biodiversity offsetting doesn’t work – keep schemes local, say experts

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