WASHINGTON, DC – September 18, 2023 | Verra, the leading standards-setter for climate action and sustainable development, today announced the launch of the Sustainable Development Verified Impact Standard (SD VISta) Nature Framework for public consultation. Under the SD VISta Program, Verra certifies the real-world benefits of social and environmental projects and their contributions to the United Nations Sustainable Development Goals (SDGs).
The innovative Nature Framework asset methodology will scale investment in high-quality biodiversity outcomes, helping to close the finance gap for achieving the goals and targets under the Global Biodiversity Framework. This will provide buyers with an easy, straightforward way to invest in biodiversity as a direct priority.
“Verra is proud to announce that the SD VISta Nature Framework is now open for public consultation. It has the potential to drive critical finance to activities that lead to positive outcomes for nature and the communities who are its stewards. Feedback from key stakeholders will ensure the framework’s quality and success, and contribute to this nascent market. The Nature Credits generated by projects using the framework will allow interested buyers to positively contribute to biodiversity conservation.”
The Nature Framework outlines how projects can generate Nature Credits that will enable buyers’ voluntary contributions to a nature-positive future.
The SD VISta Nature Framework will soon be piloted by 18 projects that were carefully selected from 179 applications. The pilot process will test the clarity, practicality, local appropriateness, scalability and ease of use of the Nature Framework in real-life projects. Verra is currently exploring how applicants whose projects were not selected can stay involved and contribute to the development of the Nature Framework. The Nature Framework Development and Advisory Groups will be piloting additional projects in support of the Framework testing and refinement.
The Nature Framework ensures intended biodiversity outcomes also provide sustainable development benefits. Projects certified by the Nature Framework will contribute directly to Life Below Water (SDG 14), Life on Land (SDG 15) and – given nature’s inextricable links to climate – Climate Action (SDG 13). The framework will also include specific safeguards for risk mitigation, respect for human rights, ecosystem health, protecting property rights of customary rights holders, and engaging customary rights holders and other stakeholders.
Verra is committed to continually improving and strengthening the framework, as technology and data improve, and we gain further insights from projects.
“We are cautious not to let ‘perfect’ be the enemy of good. Nature is too important and is in crisis and we need innovation now to finance activities that lead to positive outcomes for nature and the communities who are its stewards as quickly as possible.”
Public Consultation
The purpose of the public consultation period is to gather crucial feedback on Verra’s first SD VISta Nature Framework draft from Indigenous Peoples and local communities, customary rights holders, and other key stakeholders, to balance the rigor and practicality of the program.
“Verra is committed to ensuring that the voices of nature’s stewards who are most impacted by biodiversity loss are heard when developing solutions and programs. We are launching a parallel consultation focused on engaging with and learning from Indigenous Peoples and local communities to strengthen the Nature Framework. It includes translation of all relevant materials and facilitating a process where these communities can provide valuable input to ensure the Nature Framework is an effective, impactful, and successful methodology.”
- The public consultation on the SD VISta Nature Framework runs from September 18 to November 19, 2023.
- To participate in the public consultation period, visit the consultation announcement.
- To learn more about the Nature Framework and the consultation, please review the recording of the webinar on Verra’s SD VISta Nature Framework, which took place on October 10 at 11:00 a.m. ET.
Program Contact:
Lorena Arredondo Tagle, Manager, Sustainable Development Innovations
ltagle@verra.org
Media Contact:
Jeremy Warren, Senior Manager, Media Relations
jwarren@verra.org | 512-851-9133
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Verra is a global leader helping to tackle the world’s most intractable environmental and social challenges. As a mission-driven non-profit organization, Verra is committed to helping reduce greenhouse gas emissions, improve livelihoods, and protect natural resources by working with the private and public sectors. We support climate action and sustainable development with standards, tools, and programs that credibly, transparently and robustly assess environmental and social impacts and enable funding for sustaining and scaling up projects that verifiably deliver these benefits.