Investors Seek to Tap Millions in Biodiversity Credits From New UK Project
England’s financial plan may help restore tens of thousands of acres for birds, bugs and bees, though challenges loom.
Puddington Moor is one of the UK's first so-called habitat banks.
Photographer: Toby Diggens
On an ordinary grassy field called Puddington Moor, an unusual financial experiment is underway: A project allowing investors to generate millions of dollars of revenue in return for helping restore ravaged terrain to once again attract bugs, bees and birds.
The 25-acre plot is one of the UK's first so-called habitat banks, a parcel of land whose managers are committed to helping restore and protect nature. Ecologists assess and quantify that change, which is then packaged into tradeable units and sold as credits to housing developers or road builders seeking to offset their environmental impact. A new law taking effect in November requires developers in England to show they can deliver a 10% net gain in biodiversity in order to get planning permission.