Biodiversity Net Gain and the Task Force for NatureDisclosures Help Prevent the Sixth Mass Extinction?
Abstract
Scientists recognise a dual planetary crisis: climate breakdown and biodiversity loss. The current extermination of nature by humans is often called the sixth mass extinction. Climate breakdown is caused by the burning of fossil fuels that has powered the global economy for the last two centuries. The loss of biodiversity is primarily caused by the loss of habitat, along with the heavy use of chemical spraying for agriculture. But the two matters are entirely interconnected, and in simple terms, can be seen as two sides of the same coin. Until recently, the focus of the world has been on climate change. But now, there is recognition that the global collapse of biodiversity needs urgent attention. This article reviews two very different approaches that attempt to halt the loss of biodiversity. One is limited to England only and the other will have a global application. Biodiversity Net Gain (BNG) came into force through statute in England in February2024and applies to specific areas of land that are to be developed in England. The recommendations of the Task Force for Nature Related Financial Disclosures (TNFD) are global in scope and aim to adjust capital flows so that they may be applied for the benefit of nature.
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