Södra an initiator of global standard for biocredits

Biodiversity is a prerequisite for viable forests and is therefore a strategically important part of Södra’s Group strategy, where the focus lies on strengthening conservation values in the forest landscape by working actively with forest management, and developing new business models for biodiversity that improve the profitability of forest estates. Coordinated by Swedish Biocredit Alliance, and in collaboration with World Forest Forum, Qarlbo Biodiversity, Norra Skog and Umeå municipality, Södra has now produced a standard for biocredits. The standard will be global in scope and is a comprehensive framework to ensure quality and transparency for both buyer and seller by setting requirements on, for example, third-party verification and additionality. 

“As Sweden’s largest forest-owner association, and with a strong commitment to biodiversity among family forest owners, we obviously want to be involved in driving these issues forward. There is still much to be done before we have a functioning biocredit market, but with this standard now in place, we have passed a milestone for getting a robust system in place,” said Jessica Nordin, Director of Sustainability at Södra. 

Biocredits are a totally new tool that creates opportunities for companies to help increase biodiversity and, for landowners, it means that nature conservation activities can become a source of revenue in future that strengthens the profitability of their forest estates. It has been highlighted globally as an important complement to existing funding for nature conservation. Landowners will be compensated for their nature conservation measures according to an established project plan, and their work will be continuously followed up to ensure the nature conservation benefits for buyers. This global standard that has now been developed in collaboration between forest owners, research and industry is an important step towards the creation of a transparent and secure market. The next stage will be to define a clear process for how various methods can be used and approved in line with the standard. To enable the development of a biocredit market, Södra will contribute to continued efforts to achieve this goal within the framework of Swedish Biocredit Alliance. 

"All of society is dependent on, and has an impact on, biodiversity. Landowners possess these extremely important values and Södra wants to create incentives that turn ambitious nature conservation efforts into an asset for landowners that strengthens the profitability of their forest estates. But it’s important for everyone involved that biocredits become a credible system that promotes biodiversity. Our collaboration between research, forest owners and industry provides favourable conditions for a robust and transparent system,” said Jessica Nordin. 

In addition to the players behind Swedish Biocredit Alliance, which are World Forest Forum, Qarlbo Biodiversity, Södra, Norra skog and Umeå Municipality, many organisations and companies have become involved as members. The collaboration is open to anyone who wants to contribute to the aims of the project.