CivTech 8.6 - How can biodiversity credits be designed in a way that provides simplicity for projects and buyers, and enables investment in Scotland’s nature?

Description

Biodiversity credits are an economic instrument that can be used to finance actions that result in measurable nature positive outcomes for biodiversity and the environment. They directly address the need for investment in natural capital, beyond nature’s role in managing the carbon cycle. Biodiversity credits differ to biodiversity offsets - they can be part of a company’s nature-positive journey, an investment in nature’s recovery, rather than an offset for damage. The development of biodiversity credit markets has the potential to help address the 20 Billion (GPD) finance gap for nature in Scotland by leveraging responsible private investment into nature recovery, in line with the Scottish Government’s Biodiversity Strategy and Natural Environment Bill and the Interim Principles for Responsible Investment in Natural Capital. Please visit our website for information on CivTech and how to get involved: https://www.civtech.scot/civtech-8-challenge-6-simplifying-and-enabling-investment-in-scotlands-nature https://www.civtech.scot/how-to-apply-civtech-8 CivTech’s mission is to drive daring and innovation in the public sector by collaboratively solving Challenges that make people’s lives better – and in doing so create generations of sustainable, high growth businesses. CivTech brings together public sector expertise and private sector innovation to solve real problems, develop new products, and deliver better, faster and easier services for everyone. Central to the approach is co-production with the citizen. Part of the Scottish Government’s Digital Directorate, CivTech’s approach is helping transform public sector engagement with tech and innovation, delivering significant benefits to public services, producing genuine uplifts for the Scottish economy - and along the way, making lives better. Across the country there are problems public sector organisations would like to solve and in the current environment the need for smart, efficient and effective products has never been greater. The Scottish Government is aware innovation is a good way to create them and is committed to ensuring a large part of its tech spend goes to smaller, innovative businesses. This is where CivTech comes in. The CivTech Innovation Flow is designed to create products as quickly and effectively as possible, and uses a true Accelerator model at the heart of its Innovation Flow model. For you – whether you’re an individual, team or company – it’s an opportunity to take on a Challenge, solve it, and win contracts with a blue-chip public sector organisation. You’ll build a product, and a business to take it as far as possible. Because here’s the kicker: the Challenges we issue aren’t ‘single organisation’ problems – most exist worldwide. In short: Open Challenges are set. Any organisation, team or individual can respond. Applications are assessed, and shortlisted proposals go into an Exploration Stage where they’re developed further [for which participating applicants are paid]. The best go through to the Accelerator – a period of intensive work to create the solution, and through CivTech’s unique business workshop system, a business capable of taking the product to the world. This Challenge is also one of the first being launched as part of the Innovate for Nature strategy, and falls under Mission 2. For more information on Innovate for Nature and its Missions please visit the dedicated page on our website. https://www.civtech.scot/innovate-for-nature Please visit our website for information on CivTech and how to get involved: https://www.civtech.scot/civtech-8-challenge-6-simplifying-and-enabling-investment-in-scotlands-nature https://www.civtech.scot/how-to-apply-civtech-8