The draft BSI Flex 704 Nature markets – Supply of nature-based nutrient benefits – Specification standard sets out requirements for quantifying reductions and removals of nutrient pollution from water resources when using nature‑based solutions within nature markets.
Flex 704 provides for issuing nutrient credits, and includes a set of criteria for demonstrating high-integrity programmes, schemes and projects within nature markets.
It is part of the Flex 700 series of standards that BSI’s Nature Investment Standards Hub (NIS) is developing to provide sound governance, integrity and credibility for the rapidly growing field of nature markets.
BSI encouraging participation within the NIS, which enables sustainability and related professionals to both see and contribute to the Flex 700 series of standards.
The Flex 700 series also aims to increase both confidence, participation and investment in nature markets, such as biodiversity net gain, sustainable farming, nature-based solutions, and biodiversity recovery.
Nature markets are a means of fostering private investment into nature using saleable credits for ecosystem services and biodiversity, where credits are produced from land improvements and restoration projects for nature.
These markets enable both organisations and individuals to pay for the benefits that nature provides, e.g. from buying biodiversity credits to support conservation projects.
The consultation is available here and is open until July 31st this year.
Author: Rick Gould