Verra is establishing a Nature Framework Advisory Group within its Sustainable Development Verified Impact Standard (SD VISta) Program and invites interested and qualified stakeholders to apply.
To halt and reverse nature loss, governments, civil society organizations, and the private sector globally are committing to investing in nature-positive solutions that reverse biodiversity loss and restore ecosystems and species. To close the existing financing gap for these approaches, several leading conservation NGOs, standards setters, and consultancies have embarked on developing a conceptual framework and a methodology under Verra’s SD VISta program that will enable the quantification of nature and biodiversity benefits, thereby contributing to nature-positive solutions.
The conceptual framework will analyze key market trends to scope questions around demand and best practices to assess the key elements needed for a high-integrity methodology, including social components. Projects applying the methodology will be issued tradable units the sale of which will drive finance to operating and scaling up these projects, and to sustaining local communities and Indigenous Peoples. NGO and project developers can also use the methodology to assess the impact of their projects and prioritize their interventions. Companies with a biodiversity footprint and investors seeking to identify high-biodiversity value opportunities could apply it to quantify the impact of their investments and reduce supply chain risk by becoming nature positive.
The development of the methodology in Verra’s SD VISta Program would also allow projects to leverage SD VISta’s capacity for issuing labels for units from other programs (e.g., carbon credits).
To ensure the development of a robust and effective methodology, Verra is establishing the SD VISta – Nature Framework Advisory Group (AG) as a strategic and technical resource. The AG’s objective is to help create the highest-quality nature crediting conceptual framework and methodology possible and make sure that its widespread use will result in measurable outcomes from nature-positive actions around the world.
Details about the advisory group’s scope, criteria for participation, and application instructions can be found in the Terms of Reference. Interested stakeholders can apply by 10 September 2022. Verra encourages applications from qualified individuals representing social groups and/or Indigenous Peoples. The first advisory group meeting will be held in October.
If you have any questions about the SD VISta – Nature Framework, please contact Lorena Arredondo Tagle, Manager, Sustainable Development Innovation, (ltagle@verra.org).