Toute l'actualitéBiodiversity is both the foundation of ecosystem stability, the backbone of human economies, and an irreplaceable natural heritage. According to the Global Risks Report 2024 published by the World Economic Forum, biodiversity loss ranks among the three most significant global risks facing society. In other words, the biodiversity crisis is now considered a major systemic threat, on par with climate-related extreme events and critical Earth system changes. Against the backdrop of escalating ecological urgency, chronic underfunding for nature protection, and growing expectations placed on businesses, a new international dynamic is emerging: the potential development of a market for so-called “nature credits”.
For the past 15 years, Reforest’Action has been actively engaged in the restoration of forest ecosystems. In this context, the organisation has been appointed as a member of the European Commission’s Nature Credits Expert Group for the next five years. This strategic role reflects Reforest’Action’s commitment to supporting the development of a robust, credible and ambitious framework for these emerging biodiversity finance instruments. It also builds on the organisation’s ongoing engagement within the International Advisory Panel on Biodiversity Credits (IAPB), which brings together scientific experts, public authorities and engaged organisations to define the principles and orientations required for the emergence of high-integrity biodiversity credit markets.
Biodiversity: Foundations, Ecosystem Services and a Heritage Under Pressure
Biodiversity refers to the variability among living organisms from all sources, including, inter alia, terrestrial, marine and aquatic ecosystems, as well as the ecological complexes of which they are part. This includes diversity within species, between species and of ecosystems. Beyond its intrinsic value, biodiversity provides humanity with a wide range of essential ecosystem services, which can be grouped into several categories:
- Provisioning services: food, freshwater, fibres, bio-based materials, and pharmaceutical resources.
- Regulating services: climate regulation, pollination, disease regulation, erosion control, water purification and natural hazard mitigation.
- Cultural services: well-being, cultural heritage, spirituality, recreation and tourism.
- Supporting services: nutrient cycling, soil formation and biological productivity.
Taken together, these services represent economic value amounting to thousands of billions of euros each year. Yet over the past half-century, biodiversity has been declining at an unprecedented rate, driven by land-use change, climate change, pollution, overexploitation of natural resources and the spread of invasive species. According to the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES), one million species are currently threatened with extinction. This trend disrupts ecological balances, amplifies systemic risks and undermines the very foundations of human development.
The financing needs required to halt and reverse this decline are substantial. The Financing Nature report published by the Paulson Institute (2020) estimates an annual biodiversity financing gap of between USD 722 and 967 billion to achieve global biodiversity objectives. It is within this context of structural underinvestment that new mechanisms aimed at mobilising private finance for nature protection and ecosystem restoration are gaining momentum.
The Emergence of Nature Credits: A Dynamic Shaped by the Global Biodiversity Agenda
The concept of a “nature credits” market has emerged in the wake of recent international biodiversity negotiations, particularly the fifteenth and sixteenth Conferences of the Parties (COPs) to the Convention on Biological Diversity: COP15 held in Montreal (Canada) in 2022, and COP16 held in Cali (Colombia) in 2024.
COP15 culminated in the adoption of the Kunming–Montreal Global Biodiversity Framework, which sets out several headline targets: protecting 30% of terrestrial, inland water, coastal and marine areas globally by 2030; restoring at least 30% of degraded ecosystems by the same date; and mobilising a minimum of USD 200 billion per year from all public and private sources combined. The international community also underscored the critical role of businesses in delivering this agenda, notably through enhanced transparency, reporting and investment mechanisms.
Against this backdrop, the notion of “nature credits” (or “biodiversity certificates”) has gained increasing visibility. These instruments aim to certify measurable biodiversity benefits generated through conservation or restoration activities and to enable their potential acquisition by companies or investors seeking to contribute to nature protection under clearly defined and regulated standards.
A Landscape Still Taking Shape
Several initiatives have emerged globally, each offering a distinct approach to the development of biodiversity-related financial instruments.
The European Commission’s Initiative
In July 2025, the European Commission confirmed its intention to explore the creation of a market for nature credits. The mandate entrusted to its newly established Nature Credits Expert Group — of which Reforest’Action is a member for a five-year term — focuses on defining the methodological, scientific and operational foundations required for such a market to emerge. These include:
- the types of eligible activities,
- measurement, monitoring and verification requirements,
- environmental and social integrity criteria,
- market governance and operating rules,
- and interactions with existing European policies (biodiversity, climate, agriculture and sustainable finance). The overarching objective is to ensure that any future market-based instrument meets the highest scientific standards and delivers genuine benefits for nature.
The International Advisory Panel on Biodiversity Credits (IAPB)
The International Advisory Panel on Biodiversity Credits (IAPB) plays a key structuring role in shaping the future global market for biodiversity credits. Established to support the emergence of high-integrity mechanisms, the IAPB brings together scientific experts, public institutions, civil society organisations and economic actors to define guiding principles, methodological frameworks and quality criteria for credible and transparent biodiversity credits. Its Framework for High-Integrity Biodiversity Credit Markets provides essential reference points to clarify use cases, measurement requirements and safeguards needed to ensure that voluntary biodiversity credit markets align with international conservation priorities.
The Global Biodiversity Standard (TGBS)
Founded by Botanic Gardens Conservation International and introduced in 2022, the Global Biodiversity Standard (TGBS) recognises and promotes the protection, restoration and enhancement of biodiversity. In a context marked by the growing number of forest and agroforestry ecosystem restoration projects, the standard seeks to promote best practices that generate positive biodiversity outcomes, notably through species diversification and the integration of native species into project design. Over the long term, TGBS aims to place biodiversity at the heart of initiatives that contribute both to climate change mitigation and to the improvement of local livelihoods. In addition to its role as an impact management expert, Reforest’Action officially represents the European hub of the Global Biodiversity Standard, with the objective of scaling this certification framework across Europe. While TGBS does not constitute a biodiversity credit market as such, it provides a robust methodological foundation that may inform future international standards.
The Organization for Biodiversity Certificates (OBC)
Adopting a more operational approach, other initiatives are seeking to design concrete certification systems that recognise biodiversity gains. This is the case of the Organization for Biodiversity Certificates (OBC), launched in 2022 and co-founded by aDryada, Le Printemps des Terres, Carbone 4 and the French National Museum of Natural History. The OBC brings together companies, NGOs and scientific experts around a shared objective: developing a biodiversity certificate system capable of assessing, valuing and formally recognising local biodiversity gains generated by conservation and restoration actions. To this end, it leads an applied research programme aimed at defining technical protocols and operational rules that ensure the credibility of these certificates, drawing on rigorous scientific approaches and field-based experimentation.
Biodiversity Credits and Carbon Credits: Two Distinct Logics
While the concept of nature credits may echo the model of carbon credits, fundamental differences exist between the two mechanisms.
Ecological Scale and Complexity
Carbon is a homogeneous, physicochemical unit that can be measured consistently across contexts. Biodiversity, by contrast, is multidimensional, encompassing species richness, abundance, habitat condition, ecological interactions and ecosystem functions. This inherent complexity requires multiple indicators tailored to specific biogeographical contexts and makes universal equivalence particularly challenging.
Distinct Objectives
Carbon credits, whether issued under compliance or voluntary schemes, aim to reduce greenhouse gas emissions or enhance carbon sequestration, encouraging companies to decarbonise their operations or invest in mitigation projects. Biodiversity credits, on the other hand, primarily seek to improve ecosystem health: restoring natural habitats, strengthening resilience, protecting threatened species and reconnecting ecological corridors. While both mechanisms contribute to collective efforts to address environmental degradation, they operate at different scales and rely on fundamentally different metrics.
Corporate Use
A key distinction lies in their use by companies. Carbon credits are sometimes employed within corporate net-zero strategies, whereas future biodiversity credits are increasingly framed as instruments for delivering a net positive contribution to nature rather than as compensation mechanisms. Regulators and standard-setting bodies emphasise this distinction in order to mitigate greenwashing risks.
Objectives and Expected Benefits of a Nature Credits Market
The emergence of a structured nature credits market serves several strategic objectives:
- Mobilising private finance at scale: Given the magnitude of the biodiversity financing gap, market-based mechanisms can complement public funding by directing private capital towards projects with measurable and credible impacts.
- Accelerating ecosystem restoration: By assigning economic value to ecosystem regeneration, nature credits can support locally relevant projects, including rewilding, forest restoration, agroecology, wetland rehabilitation, ecological corridors and species conservation.
- Enhancing transparency and scientific measurement: Any credible market depends on robust methodologies. Harmonised measurement frameworks improve project quality, standardise practices and strengthen investor confidence.
For companies — which have a critical role to play in the ecological transition — a nature credits market could provide a concrete means to contribute to biodiversity objectives, support projects aligned with responsible investment expectations, anticipate future reporting requirements (TNFD, CSRD), and reinforce sustainability positioning and communication. For investors, certified frameworks offer access to projects characterised by transparent impact measurement, managed risk through independent verification, and social co-benefits anchored at the local level.
Reforest’Action at the Heart of the Emerging European Framework
By joining the European Commission’s Nature Credits Expert Group, Reforest’Action has entered a select group of organisations tasked with informing European decision-making. This role offers several key opportunities:
- contributing to the definition of scientific and technical criteria underpinning the future framework,
- promoting a demanding vision of ecological restoration grounded in quality, durability and measurable impact,
- leveraging field experience gained through hundreds of projects across more than 40 countries,
- anticipating regulatory developments and supporting the emergence of a credible European nature credits market aligned with the objectives of the European Green Deal.
For Reforest’Action, this appointment represents both recognition of its expertise and a responsibility: to advocate for an ambitious vision of ecosystem restoration and to ensure that future nature credits genuinely support a deep and lasting transformation of ecosystems.
The creation of a nature credits market represents a major development in biodiversity finance. Although still in an exploratory phase, this dynamic responds to an urgent need: mobilising economic actors at scale to restore the living world. At the intersection of ecological science, sustainable finance and public policy, this emerging market will need to rest on high standards, rigorous methodologies and uncompromising transparency. By joining the European Commission’s expert group, Reforest’Action positions itself at the heart of this transformation and will actively contribute to the emergence of an international framework capable of delivering integrity, impact and ambition for biodiversity.