Perak wants studies before adopting Federal amendments to the National Forestry Act

Perak MB, Datuk Seri Saarani Mohamad stated that more time and studies are needed before Perak can adopt the amendments to the National Forestry Act. He emphasised the necessity for thorough studies due to the vast forest lands in states like Perak, Pahang, and Johor. The amendments include processes for degazetting and replacing permanent forest reserves, introducing public investigations before degazetting, and simultaneous replacement of degazetted forests. Saarani had previously mentioned that the state would fully adopt the amendments. Click here to know more.

Sustainable mangrove forestry relies on the preservation and respect of conservation zones

Preserving mangroves and their ecosystem services while meeting social and economic needs is a key challenge in coastal conservation. Research from Malaysia shows that protecting mangroves and balancing resource utilisation is possible with proper management. Well-protected conservation areas within forest landscapes aid in natural regeneration, support wildlife, and maintain carbon storage levels. However, prioritising profits over conservation may harm landscape resilience and long-term sustainability. Click here to know more.

Sustainable forestry is an asset class

Established in 2005, New Forests Advisory Pty Ltd. offers investors exposure to sustainable timber production and carbon markets, with over US$7 billion in assets. Engaging in carbon markets and sustainable timber sales, it also invests in voluntary carbon markets to meet the rising demand for carbon credits. New Forests emphasises forest certification, sustainability practices, and aims to support biodiversity, ecosystem restoration, and rural livelihoods through carbon credit generation. Click here to know more.

Tracking countries pledges to address biodiversity loss ahead of COP16

At COP15 in December 2022, most countries agreed on a new global deal to stop biodiversity loss by 2030 and reconcile with nature by 2050 under the Kunming-Montreal GBF. Countries promised to unveil new plans to reach various goals, called NBSAPs. The GBF needs countries to submit new NBSAPs before COP16 in Cali, Colombia. To know more, you can click here.

Forests are crucial in addressing the triple planetary crisis

Forests are crucial for addressing global challenges. The upcoming UN Forum on Forests will review progress towards sustainable forest management and the Global Forest Goals, focusing on solutions to the planetary crisis. Forest solutions help Small Island Developing States (SIDS) to combat the planetary crisis with freshwater, coastal protection, biodiversity, and economic development. UN DESA aids SIDS in forest management. Click here to know more.

Indonesia cancels license for world biggest forestry offsets project

The Indonesian government cancelled a carbon offsets project in Borneo due to violations by Rimba Raya. Implications for carbon exchanges, traders, and companies are significant. The risks of such projects and changing regulations are highlighted. Carbon offsets are important for fighting climate change, but prices may increase. The voluntary carbon market, criticised for overstating environmental benefits, affects companies like InfiniteEarth. To know more, you can click here.

Nik Nazmi urges more states to adopt Forestry Act changes

Nik Nazmi urges more states to adopt Forestry Act amendments for uniform standards. Only Perlis and Selangor have fully adopted them. Amendments aim to tighten processes for forest reserve degazetting and replacement. Nik Nazmi emphasises the need for safeguards against economic pressure and illegal activities. State-level changes are vital for enforcement, with some states already taking action. Saarani Mohamad showcases Perak's conservation work, including new forest reserves and funding for environmental initiatives. To know more, you can click here.

Sabah Chief Minister sets RM 165 million target for Sabah Forestry Department

Sabah Forestry Dept aims to boost revenue to hit RM165 million target this year. As of March 2024, they've collected RM39.7 million (24% of target). Chief Minister Hajiji Noor wants more revenue sources like forest activities, carbon trading, and research commercialisation. Last year, RM1.647 million from Forest Recreation made a notable impact on conservation. To know more, you can click here.

BAS assessed biodiversity impact of corporate carbon credits purchase

US corps Delta Air Lines & Chevron buy low carbon credits with strong biodiversity scores. AlliedOffsets assesses nature-based carbon projects & compares buyers using the 'biodiversity attention score'. Shell has 88% high BAS retirements. Eni & Entega are top performers. Zeuss Petroleum had a 2% retirement rate. US leads in high BAS credits. Peru, Indonesia, Brazil & Colombia also generate high BAS credits. 67% of projects had biodiversity requirements. Small-scale frameworks like Plan Vivo & compliance markets had strong criteria. UN CDM frameworks lag. Standards like Social Carbon & Verra moved from UN methodologies. Verra's new VM0047 method for ARR projects lacked biodiversity requirements. Click here to know more.

Countries missed half of pre-2020 biodiversity targets

The CBD aims to safeguard biodiversity with strategies at the national level. Progress has faltered due to modest goals, weak follow-up, and ineffective measures. Analysis of planning documents from 30% of CBD Parties uncovered gaps between pledges and results, especially in tough targets. Parties with better human development indices had mixed outcomes, while "megadiverse countries" fared better. These results are key for tracking global biodiversity commitments. To know more, you can click here.

UN-backed alliance assesses emerging biodiversity credit market integrity

The Biodiversity Credits Alliance (BCA) released an issue paper outlining the development of a review mechanism for the biodiversity credit market. Emphasising the need for reliable monitoring of nature gains and Indigenous Peoples' rights, the BCA aims to establish a foundation for the market's sustainability and success. Led by the University of Nottingham, the BCA plans to release its next issue paper on the "Definition of a Biodiversity Credit" by the end of May. Click here to know more.

It is time to make biodiversity an asset class, says KPMG

KPMG advocates for investing in nature by making biodiversity an official asset class. Their report, "The Investment Case for Nature," highlights the current global spending on biodiversity at US$166bn annually, calling for incentives and leveraging data and technology to facilitate investment. KPMG's Sarah Nelson stresses the joint responsibility of public and private sectors to bridge the nature finance gap, highlighting nature's vital role in the global economy. Collaboration among businesses, finance, and conservation sectors is urged to secure funding and address nature financing challenges. To know more, you can click here.