In recent episodes of the ESG Insider podcast, we explored the role of carbon markets in reaching climate targets, and how the voluntary market is evolving. In this episode, we're exploring the intersection of climate change and biodiversity through the lens of the voluntary carbon market.

Carbon credits come from different types of projects, and we’re exploring the role that biodiversity can play in nature-based carbon credits such as those that sequester carbon in trees by planting a new forest or preserving or restoring an existing forest.

To understand how the conversation around biodiversity and carbon credits has evolved, we talk with Dr. Spencer Meyer, Chief Ratings Officer at BeZero Carbon, which provides project-level credit risk assessments for voluntary carbon credits.

"There is a golden opportunity right now, as we're investing in climate solutions, to be also having a significant uplift for biodiversity around the world," Spencer tells us.

We explore the challenges and benefits of including biodiversity in nature-based projects with Jonathan Kim, Chief Sustainability Officer and Vice President of Climate Impact at Terraformation, which focuses on developing carbon credits that improve biodiversity by planting native species.

Jonathan says that planting trees and other native species can also help ensure a forest remains healthy and continues to generate carbon credits for a long time.

"When you use native species, you actually take advantage of thousands of years of co-evolution, all designed to help a forest thrive," Jonathan says. "The forest becomes more resilient against things like pests and extreme weather and starts doing its own natural regeneration."

Listen to part one of our carbon markets miniseries, "Exploring the role of carbon markets in reaching climate targets," here: https://www.spglobal.com/esg/podcasts/exploring-the-role-of-carbon-markets-in-reaching-climate-targets

Listen to part two of the miniseries, “What's next for voluntary carbon markets,” here: https://www.spglobal.com/esg/podcasts/what-s-next-for-voluntary-carbon-markets

Learn more about S&P Global Commodity Insights' research and analysis of carbon markets: https://www.spglobal.com/commodityinsights/en/commodities/energy-transition/carbon

This piece was published by S&P Global Sustainable1, a part of S&P Global.

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The rising role of biodiversity in carbon markets