Biodiversity Credit Alliance(BCA) is increasingly pushing for use of biodiversity credits (biocredits) for financing targets under Kunming-Montreal Global Biodiversity Framework (KMGBF).
Biocredits provide a potential mechanism to finance conservation, restoration and interventions addressing drivers of biodiversity loss, such as habitat degradation.
- BCA is a voluntary international alliance that brings together diverse stakeholders to support the KMGBF.
- Launched at 15th Conference of Parties (COP15) to the UN Convention on Biological Diversity (CBD) in 2022.
- It aims to develop voluntary biocredit market by building a framework of high-level, science-based principles.