Nature-based credit markets at a crossroads

A swathe of recent impact evaluations demonstrating disappointing results suggest nature-based credits (derived from carbon or biodiversity offsets) are at a crossroads. Either nature-based credit markets are fundamentally reformed to adopt the latest scientific understanding on additionality, leakage and permanence, rebuilding investor confidence and allowing them to upscale, or they will continue to demonstrate non-additionality, lose investor confidence and constrain one of our most promising tools for drawing private investment into conservation.