Biodiversity credits are an emerging vehicle for pro-environmental financing, yet much uncertainty remains around how and when they could boost biodiversity conservation. A new study defines what biodiversity credits are and explore impact pathways through a proposed theory of change. Based on evidence from 34 pilot projects and a review of lessons from related market-based incentives for conservation, authors further explore potential opportunities and pitfalls, including future supply and demand, bundling/stacking options, and needed social safeguards.
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