Von der Leyen moots nature credit market to avert ecosystem collapse
European Commission President Ursula von der Leyen emphasized the need for new financial tools to incentivize farmers for their role in reversing biodiversity loss and climate change. She highlighted the dual challenge faced by farmers as victims of these crises while also being potential contributors to their solutions. Von der Leyen proposed the introduction of nature credits as a market-based system to reward those who provide ecosystem services, extending beyond the agricultural sector. The idea of nature credits was also discussed at the COP28 climate summit, where von der Leyen suggested their potential use in rewarding African countries for preserving their rainforests. The concept is being explored at the United Nations and within the European Commission, with the aim of establishing a global standard to prevent greenwashing. Johan Rockström from the Potsdam Institute for Climate Impact Research further stressed the urgency of addressing the climate crisis, emphasizing that nature plays a crucial role in regulating the planet s stability. He called for a fundamental shift away from the current disaster path, even if the focus is solely on jobs, economy, and security, as these are intrinsically linked to the environment. Von der Leyen has pledged to present a roadmap for the future of farming in Europe within her first 100 days in office, building on the strategic dialogue report that was unanimously endorsed by various stakeholders. The report calls for a significant increase in the portion of direct payments to farmers under the Common Agricultural Policy that are linked to environmental action. In summary, von der Leyen and Rockström both underscored the importance of recognizing and rewarding farmers and other stakeholders for their contributions to environmental sustainability. The proposed nature credits system aims to create a market for restoring the planet, while the strategic dialogue report emphasizes the need for increased financial incentives for farmers to adopt environmentally friendly practices. The urgency of addressing the climate crisis and biodiversity loss is evident, with a call for a fundamental shift in policies and practices to ensure a sustainable future.
Source: euronews.comPublished on 2024-09-13
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