Malaysia's Federal Court has allowed two NGOs, the Association for the Protection of Natural Heritage of Malaysia (PEKA) and Pertubuhan Alam Sekitar Sejahtera Malaysia (GRASS), to challenge the Selangor government's decision to degazette parts of the Kuala Langat North Forest Reserve. This marks a significant ruling, enabling public interest litigation for environmental causes. The case focuses on the legality of the state’s action and could set a precedent for future environmental legal battles in Malaysia. Click here to learn more.
Yayasan PETRONAS has partnered with Malaysia's Department of Fisheries and Sabah Biodiversity Centre to conserve seagrass meadows. Through Memorandums of Understanding, they aim to map and protect seagrass ecosystems in Johor and Sabah over two years. This initiative will involve local communities to enhance their role in conservation and resilience against climate change. The project also focuses on raising awareness about the environmental and economic importance of seagrass. To learn more, you can click here.
TRAFFIC's analysis from 2019 to 2024 reveals 28 wildlife trafficking seizures in Taman Negara, involving endangered species like pangolins, tigers, and elephants, with 15 live animals and 499 parts confiscated, underscoring effective enforcement and ongoing poaching threats. Click here to learn more.
Non-profits, including SAVE Rivers and RimbaWatch, urge Prime Minister Anwar Ibrahim to reform the Malaysian Timber Certification Scheme (MTCS) due to issues affecting Indigenous communities. They report flaws in auditing, lack of independence, and information access challenges, calling for better standards, transparent certification, and alignment with the EU's Deforestation Regulation (EUDR). To know more, you can click here.
After the June 14 oil spill in Singapore, claims against Marine Honour are rising. While financial losses are evident, quantifying environmental damage is challenging, underscoring the difficulty of valuing nature. Nearly half of global GDP depends on nature, and the UN estimates US$700 billion annually is needed to bridge the biodiversity financing gap. Recent initiatives, such as the US forgiving US$35 million of Indonesia’s debt for coral reef conservation and the World Bank’s US$225 million Amazon reforestation bond, highlight increased private sector involvement. To know more, you can click here.
Terraformation, co-founded by ex-Reddit CEO Yishan Wong, plans to launch its first biodiversity credit projects next year, starting with a large park in the Philippines. They will use Verra’s Nature Framework and BGCI’s Global Biodiversity Standard. Initial feasibility studies have focused on carbon credits before shifting to biodiversity. The company warns against double counting and notes high monitoring costs, with prices likely over $50 per credit. They are also exploring partnerships with BGCI for further biodiversity projects, depending on market growth. To know more, you can click here.
The G20 Initiative on Bioeconomy (GIB), led by Brazil, introduced 10 principles for a sustainable bioeconomy, financed by biodiversity and carbon credits. Aiming to grow the bioeconomy to $30 trillion by 2050, GIB addresses sustainable development, inclusivity, and climate action. Concerns include offsetting, unclear rules, and greenwashing, with financing from venture capital, green bonds, and sustainability-linked loans. To learn more, you can click here.
Indonesian president-elect, Prabowo Subianto is proposing a US$65 billion green fund aimed at selling carbon credits as part of Indonesia's broader sustainability efforts. This initiative would capitalize on the country's extensive rainforests, which serve as significant carbon sinks. By selling carbon credits, Indonesia aims to attract global investors, reduce deforestation, and contribute to mitigating climate change. This strategy is aligned with global carbon market trends, helping the country balance economic growth and environmental sustainability. To learn more, click here.
Japan’s environment ministry announced it is accepting applications for nature coexistence support certificates after delays. The country has approved nearly 200 Other Effective area-based Conservation Measures (OECMs) and plans to certify more next year. These certificates, part of a system to promote biodiversity through private initiatives, can be included in reporting standards like TNFD. Nearly 600 organizations have shown interest. The ministry will also facilitate matching projects with supportive companies. The application deadline is Jan. 17, 2025, for already certified projects. Click here to learn more.
Natural capital investments are expected to exceed $1 trillion in the next two decades, driven by carbon pricing, biodiversity markets, and renewable energy. This highlights the growing importance of market-based nature solutions like biodiversity credits. A UN report urges investors to align with conservation efforts, engage local communities, and adopt strong due diligence to ensure sustainability. Click here and here to learn more.