HIGH-LEVEL GOVERNANCE AND INTEGRITY PRINCIPLES FOR EMERGING VOLUNTARY BIODIVERSITY CREDIT MARKETS

The World Economic Forum presents a consultation paper outlining a framework for voluntary biodiversity credits, distinguishing them from biodiversity offsets by focusing on nature-positive outcomes rather than compensation for damage. The proposed framework is organized into three themes: transparent governance, equity and inclusion (specifically regarding Indigenous peoples and local communities), and rigorous verification. It emphasizes the need for science-based metrics, third-party audits, and a flexible approach to additionality to mobilize the estimated $700 billion annual funding gap required to reverse biodiversity loss.

• Biodiversity credits differ fundamentally from biodiversity offsets because they are intended to finance nature-positive outcomes rather than compensate for residual negative impacts. Unlike carbon, biodiversity is not fungible, meaning positive outcomes in one location cannot easily be equated to negative outcomes in another.
• The voluntary biodiversity credits market is positioned as a mechanism to address a significant global funding shortfall for nature, estimated at more than $700 billion per year.
• The proposed governance principles emphasize legal clarity and transparency, requiring project proponents to have the legal right to carry out projects and to provide publicly accessible electronic data on credit design and issuance.
• Equity and inclusion principles center on the rights of Indigenous peoples and local communities (IPs and LCs), mandating free, prior and informed consent (FPIC) and advocating for their roles as project proponents and knowledge-holders.
• Verification must prioritize the measurement of actual biodiversity outcomes (such as species population increases) over mere activities (such as the number of invasive species controlled), as activities alone are inadequate indicators of success.
• The document advocates for a flexible approach to additionality, suggesting a project is additional if it produces positive outcomes that would not have occurred under business-as-usual, regulatory requirements, or pre-existent lender requirements.
• To prevent greenwashing and conflicts of interest, the framework recommends third-party audits at periodic or randomized intervals and the use of independent third parties for scheme administration and credit issuance.

APA

World Economic Forum (2022). HIGH-LEVEL GOVERNANCE AND INTEGRITY PRINCIPLES FOR EMERGING VOLUNTARY BIODIVERSITY CREDIT MARKETS. https://www3.weforum.org/docs/WEF_Biodiversity_Credits_Markets_Integrity_and_Governance_Principles_Consultation.pdf

Chicago

World Economic Forum. HIGH-LEVEL GOVERNANCE AND INTEGRITY PRINCIPLES FOR EMERGING VOLUNTARY BIODIVERSITY CREDIT MARKETS. 2022. https://www3.weforum.org/docs/WEF_Biodiversity_Credits_Markets_Integrity_and_Governance_Principles_Consultation.pdf.

Wikipedia

{{cite report |author=World Economic Forum |title=HIGH-LEVEL GOVERNANCE AND INTEGRITY PRINCIPLES FOR EMERGING VOLUNTARY BIODIVERSITY CREDIT MARKETS |date=December 2022 |url=https://www3.weforum.org/docs/WEF_Biodiversity_Credits_Markets_Integrity_and_Governance_Principles_Consultation.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{worldeconomicforum2022highlevel, author = {{World Economic Forum}}, title = {{HIGH-LEVEL GOVERNANCE AND INTEGRITY PRINCIPLES FOR EMERGING VOLUNTARY BIODIVERSITY CREDIT MARKETS}}, institution = {World Economic Forum}, year = {2022}, month = dec, url = {https://www3.weforum.org/docs/WEF_Biodiversity_Credits_Markets_Integrity_and_Governance_Principles_Consultation.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }