England is launching a biodiversity credit scheme this week that attempts to force all new road and housebuilding projects to benefit nature, rather than damage it.
Sophus zu Ermgassen, an ecological economist from the University of Oxford, said England’s scheme is “world-leading in its scope” in that it addresses all new construction, and covers all natural habitats.
“Demand for biodiversity credits, or offsets, is really limited unless there is some sort of fundamental driver,” zu Ermgassen said, adding that having a mandatory market for all developers helps these things scale up and draw in more investment and activity than they would otherwise.
Zu Ermgassen was part of a study that found that more than a quarter of BNG units are at risk of leading to no tangible increases in biodiversity because there is no monitoring system in place.
Much of the off-site habitat restoration demanded by the scheme – including the creation and protection of wetlands, wildflower meadows or woodlands – is expected to happen on farmland.
Ben Taylor, the manager of Iford Estate farm near Lewes in East Sussex, said betting on this emerging market is “crystal ball stuff”, with many farmers hesitant to take the financial risk.
The original article contains 888 words, the summary contains 199 words. Saved 78%. I’m a bot and I’m open source!
This is the best summary I could come up with:
England is launching a biodiversity credit scheme this week that attempts to force all new road and housebuilding projects to benefit nature, rather than damage it.
Sophus zu Ermgassen, an ecological economist from the University of Oxford, said England’s scheme is “world-leading in its scope” in that it addresses all new construction, and covers all natural habitats.
“Demand for biodiversity credits, or offsets, is really limited unless there is some sort of fundamental driver,” zu Ermgassen said, adding that having a mandatory market for all developers helps these things scale up and draw in more investment and activity than they would otherwise.
Zu Ermgassen was part of a study that found that more than a quarter of BNG units are at risk of leading to no tangible increases in biodiversity because there is no monitoring system in place.
Much of the off-site habitat restoration demanded by the scheme – including the creation and protection of wetlands, wildflower meadows or woodlands – is expected to happen on farmland.
Ben Taylor, the manager of Iford Estate farm near Lewes in East Sussex, said betting on this emerging market is “crystal ball stuff”, with many farmers hesitant to take the financial risk.
The original article contains 888 words, the summary contains 199 words. Saved 78%. I’m a bot and I’m open source!