Biodiversity on OFP: This is the Plan

Biodiversity and Conservation is a massive topic (estimated around 1.2 billion hectares of land globally) in climate circles, with a lot of open questions looking forward: How can we standardize biodiversity credits? What nomenclature or underlying methodology can accommodate such a wide diversity of value? How can we think of the emergence of a global biodiversity credit market? Interest in the emerging biodiversity market has ranged from the United Nations to the World Economic Forum. The underlying interest in the topic is twofold: First, to create a systematic solution for reversing ecosystem destruction and preserving biodiversity in the coming century. Second, to compensate for environmentally destructive behavior in other areas and industries, by purchasing credits reflecting ecosystem preservation.

On Open Forest, we have a unique opportunity to be at the forefront of this emerging biodiversity credit market as well as whatever evolves beyond such a market (more on this below). However, getting this vertical right is extremely important for both scaling and incentivizing conservation in the coming decades. In simple terms, we need to carefully and comprehensively think through this process now so that biodiversity and conservation can thrive on OFP for the next 50+ years.

Here is a little roadmap for how OFP plans to attack Biodiversity credits:

  • Step 1: Start of the OFP Working Group for Biodiversity Credits (2–3 months). The working group will source perspectives from non-governmental organizations, international agencies, government stakeholders, indigenous communities, and existing climate tech builders. The goal of the working group is to come to an agreement on the criteria for issuing a biodiversity credit on OFP, and the different varieties of biodiversity credits therein.

The underlying belief of this roadmap is that any credit market is a temporary solution for re-imagining and re-inventing our relationship with nature and the value we derive from it. As projects of all sorts mature on Open Forest, the ultimate goal is to turn them into conservation projects. In this manner, a AR / IFM / AgroForestry / Mangrove project eventually grows into the biodiversity market — and ultimately, the basis of a new type of value. While we are only at the very beginning of this conversation, there is a large need for support, insight, and contributions from biodiversity experts and passionate environmentalists who care about this issue deeply!

To join the OFP Biodiversity Working Group please fill out the form here and we will be in touch!

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Open Forest Protocol

Blockchain platform for next generation forest projects. Transparently measure, report, and verify the entire life cycle of trees.