Momentum Builds for Stronger Governance of Nature Markets

As the UK government prepares to consult on the future of voluntary carbon and nature markets, the Nature Markets Dialogue (NMD) has published its consultation paper, "Towards a governance framework for high integrity nature markets," which draws from extensive discussions, roundtables, and workshops conducted over the past year. Accelar Director Chris Fry is a contributor to the NMD - a crucial consensus-building initiative bringing together experts from the finance, business, farming and environment sectors to support UK nature market development.  

The initiative comes at a pivotal moment in UK environmental policy development, with the Environmental Improvement Plan under review and the anticipated government consultation on Voluntary Carbon and Nature Markets governance on the horizon. This framework aims to establish nature markets as an efficient mechanism for delivering verified environmental improvements, whether to meet regulated obligations, supply chain requirements, or development offsetting.

“Nature markets hold significant promise, but we need to see the wood for the trees,” notes Chris. “How these markets are governed has big implications for their part in nature recovery - from the scientific robustness of measurement to rules for operating the markets and trading credits to enforcement.”

UK Nature Markets Dialogue Consultation Paper - December 2024

The consultation process includes 15 targeted questions designed to address fundamental issues in nature market governance. The NMD will host a series of workshops in the coming weeks, culminating in a roundtable presentation of results and recommendations to Ministers. This collaborative approach ensures that the resulting framework will reflect the diverse perspectives of market participants while maintaining high integrity standards for nature recovery initiatives.

This consultation represents a unique opportunity to shape the future of UK nature markets, ensuring they make a meaningful contribution to environmental restoration while maintaining robust governance standards. The initiative is supported by key organisations including the Broadway Initiative, Esmée Fairbairn Foundation, Institute of Directors (IoD), and Ecosystems Knowledge Network.