UK Unveils Principles for Voluntary Market in Nature Credits
- McCarthy says there’s now ‘a clear framework of good practice’
- International market for nature credits is seen poised to grow
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The UK is setting out its own principles for the voluntary market for nature credits, representing a vote of confidence in a largely experimental financial product that’s intended to protect biodiversity.
Britain will unveil the guidance at the COP29 climate summit, as Prime Minister Keir Starmer steps up the country’s green ambitions with a new greenhouse gas emissions reduction target. The framework will also apply to carbon credits, with the guidance to be subject to public consultation next year, according to a statement seen by Bloomberg News.