PV Nature - FAQs

A high-integrity biodiversity credits market depends on transparency and auditability. It must be possible to prove what a credit claims to represent. Traditionally, biodiversity data has been collected by biologists and ecologists in the field manually recording what they see and/or hear. Data collected in this way is still valuable in terms of describing the biodiversity at a certain project site, but is difficult to use on the certification process as it cannot be easily verified by independent third parties. Further it introduces observational biases and variation between projects.  

Traditionally, high quality biodiversity surveys require entire teams of experts to be present on site, sometimes for long periods of time. This can become hugely expensive for the project. In comparison, digital data collection allows any field technicians to deploy sensors which can record much more data for a fraction of the time and cost.

Deploying technology is very simple and requires a small amount of training. This makes the costs and complexity much lower but importantly democratises access to biodiversity credits markets - meaning that those who can’t afford a team of ecologists can still collect the data required to issue high quality credits. Where possible, we encourage projects to consider how local communities and experts can support project data collection (for example through providing training and employment opportunities).

Digital data collection can be combined with other project biodiversity monitoring and surveys, as required in addition to monitoring under the PV Nature Methodology. This will not contribute to the quantification of Plan Vivo Biodiversity Certificates (PVBCs), however, will contribute to the overall narrative of the project and the value/ price of the PVBCs. 

No. All Plan Vivo Biodiversity Certificates are ex-post - in other words - certificates are only issued on the basis of biodiversity outcomes that have already been achieved, measured and evidenced.

Projects meeting the requirements of Plan Vivo Biodiversity Standard (PV Nature) must be officially registered to generate Plan Vivo Biodiversity Certificates (PVBCs). The first step towards registration is to submit a Project Idea Note (PIN) as part of a screening process where projects are assessed against basic eligibility criteria. If a PIN is approved, a project is listed in the project pipeline and can then submit a Project Design Document (PDD) for assessment. Following this, a project may be validated by a Validation and Verification Body (VVB) or Independent Expert (IE). Upon successful validation, the project will complete registration and become Certified. All Certified projects must submit Annual Reports with details of their monitoring results and any requests for issuance of PVBCs. Projects must then undergo Verification at least every 5 years throughout their Project Period.

PVBCs are issued based on evidence-based outcomes i.e. what actually happens on the ground, rather than predictions or forecasts. For restoration projects, this may mean that it is not possible to know ahead of time how many certificates a project will generate. Ecosystems that are in warm, wet climates might support very rapid changes. Those that are water deprived, colder, or at altitude, for example, might show slower changes. For conservation projects, a maximum of 20 PVBCs can be issued per hectare per year, if 100% of the biodiversity baseline is maintained. The number of certificates that can be issued (per hectare per year) decreases from 20 to 18 if the baseline decreases from 100% to 90%. If the baseline drops below 90% of the baseline value, no certificates can be issued.  

All PVBCs are issued based on a trend confirmation analysis that accounts for the uncertainty in the measurements (see PV Nature Methodology for more information).

More importantly than trying to work out how many PVBCs a project can generate in advance, is ensuring that local land stewards are properly incentivised to create the best possible outcome for nature and biodiversity in the context of the landscape

Plan Vivo and Pivotal do not sell or set pricing for certificates / credits. However, Plan Vivo is working on some pricing guidance and will advise all projects to set the minimum price of PVBCs to reflect the minimum cost of doing the work, gaining certification with the associated requirements, as well as rewarding the custodians of nature to continue incentivising sustainable land management and nature recovery. Project costs will vary depending upon the cost of management interventions and technical expertise required. Above these, pricing is expected to be driven by a number of key factors including: biodiversity significance (e.g. threatened species or ecosystems), presence of charismatic species, social impact, cultural importance and, ultimately market demand and willingness to pay for high quality, high integrity biodiversity credits.  

Projects are able to stack PVBCs with carbon credits in instances where all PV Nature requirements for stacking, including additionality, are met (see PV Nature Project Requirements sect. Additionality and sect. Stacking).

The private sector is anticipated to play a critical role in meeting the global biodiversity conservation financing gap (estimated at $711 billion per year by the World Economic Forum in 2020). Market data points to increasing private sector investment in natural capital investment, including from philanthropic foundations, impact investors, large asset owners and corporations. There is increasing recognition by the private sector of their dependence on nature and biodiversity, and increased scrutiny by consumers and regulators on the environmental and social impacts of doing business. Emerging biodiversity markets offer an opportunity for corporates to voluntarily mitigate supply chain risks and strengthen their brand reputation, as well as comply with regulations for strengthened ESG reporting and reporting against emerging frameworks such as Science Based Targets Network (SBTN) and the Taskforce for Nature-related Financial Disclosure (TNFD).