BLOOMBERG • September 28, 2023
Everyone involved is betting Scotland will soon pass a law that forces companies to make up for their environmental impact by funding protection elsewhere. A similar regulation is due to take effect in England early next year. They’re also eyeing a global, unregulated market for the credits that’s gotten a boost from a commitment by almost 200 countries to halt and reverse biodiversity loss by 2030 and new guidelines for businesses to address nature-related risks. CreditNature forecasts it could be worth up to $35 billion by 2050. Others are skeptical that the biodiversity credits market can gain traction and that it won’t face the same problems as carbon offsets. It’s also uncertain whether and for how long such projects can retain the support of nearby communities. But Highlands Rewilding is hoping to sell any intellectual property and technology the team develops in the process, contributing to its projected $120 million in total revenue over the next decade.