COP16 Side Event – Biodiversity Offsets and Credits: examining risks and challenges

21 Oct 2024
Blue Zone, Malpelo - Contact Group 1 meeting room, Plaza One

Monday 21 October, 18:00 Colombian Standard Time / 23:00 UTC

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After their insertion in target 19 of the Kunming-Montreal Global Biodiversity Framework, proposed schemes around biodiversity offsets and credits are being rolled up rapidly. 

Civil society organizations and academic experts worldwide have been warning about the risks of biodiversity markets and their lack of effectiveness to address the biodiversity loss crisis and fulfillment of human rights. Now, hundreds of civil society organizations are calling on governments, multilateral bodies, conservation organizations and other actors to stop the promotion, development and use of biodiversity offsetting and crediting schemes. Instead, they advocate for the prioritization of real solutions such as the effective regulation of harmful corporate activity; removing harmful government subsidies; rights-based and community-led approaches. 

This side event will convene experts from different civil society organizations who will offer a deep dive into the gaps and risks of biodiversity markets.

When: Monday 21 October, 18:00 Colombian Standard Time (UTC-5)

Where: Blue Zone, Malpelo – Contact Group 1 meeting room, Plaza One

Who: Global Forest Coalition (GFC), Third World Network (TWN), Friends of the Earth International (FoEI), Global Youth Biodiversity Network (GYBN)

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