From ambition to implementation: Biodiversity credits for NBSAP delivery

In response to the call for innovative finance under Target 19(d) of the Kunming-Montreal Global Biodiversity Framework (GBF), policy interest in biodiversity crediting mechanisms has been growing. As of July 2026, 48 countries mention biodiversity credits in their National Biodiversity Strategies and Action Plans (NBSAPs) or Seventh National Reports, excluding references limited to compliance offsets. Yet demand remains weak, even as supply is advancing.

For governments who have committed to or are currently adopting biodiversity credits, the immediate question is not just how to use those credits. It is also how to create a credibly policy framework that effectively catalyzes and drives private finance toward NBSAP priorities, while protecting ecological and social integrity.

This briefing note outlines the questions that governments must address in their pursuit of credible policy for biodiversity credits and offers an example of Peru as a practical test of how governments can build market integrity, policy coherence, and alignment with national biodiversity priorities from the outset.