The issue of biodiversity credits, how they work and whether they could benefit Bermuda will be the subject of the first talk in a new series of lunch and learns.
The Bermuda Environmental Sustainability Taskforce and Bermuda College have joined forces to hold a new Eco Lunch & Learn series.
In the first, on October 26, Karen Nagel, the founder and chief executive of Triangle Carbon Strategies, will explain what carbon and biodiversity credits are, their origin and how Bermuda could benefit from corporate desire to invest in nature.
“Karen has spent most of her working life focused on finance but involvement with the Bermuda charity sector, together with a long-held interest in the environment and sustainability, led her to study sustainable development at SOAS, University of London.”
Amy Harvey, the Earth and Environmental Science lecturer at the Bermuda College, added: “Carbon credits were first introduced in 1997 as part of the United Nations Kyoto Protocol, which focused on reduction of carbon dioxide emissions.
“Countries were encouraged to reduce carbon emissions by 5 per cent of 1990 levels. Out of this protocol a Clean Development Mechanism arose that allowed industrialised countries to offset their emissions by buying from countries that did not emit as much.
“While it seems like a logical system it is one that has not necessarily been successful in that there are more sellers than buyers.
“Also, it must be considered if it makes sense for your country. For example, does it make sense for a small island like Bermuda that may not have the landmass to sell enough carbon credits to make financial sense?