The adoption of the Global Biodiversity Framework (GBF) at the 2022 Kunming-Montreal (COP15) marks a pivotal step in global efforts to restore and conserve biodiversity. A key aspect of this framework is its ambitious financial targets: mobilizing at least USD $200 billion annually for biodiversity funding while reducing harmful subsidies by another USD $500 billion. Among the innovative financial mechanisms encouraged by the GBF is the voluntary biodiversity credit market, a tool with the potential to direct significant financial resources toward tropical ecosystem conservation and restoration. However, the market remains in its infancy, with diverse methodologies and standards yet to coalesce into a unified framework.

This symposium aims to address the critical role of biodiversity monitoring in the development of the biodiversity credit market. Robust monitoring systems are fundamental to ensure that these mechanisms achieve their intended outcomes and avoid pitfalls experienced in the voluntary carbon market. The symposium will also explore the general structure of the biodiversity credit market, including its key actors, frameworks, and trade-offs, and provide an overview of proposed methodologies and standards for quantifying biodiversity.

The discussions will focus on solutions tailored for tropical ecosystems, where the bulk of biodiversity credits are expected to operate. Key topics include the integration of cutting-edge technologies such as remote sensing, acoustic monitoring, and eDNA analysis, and the trade-offs in biodiversity metrics. Should the emphasis be on species richness, or should compound indices that incorporate taxonomic, functional, and phylogenetic diversity take precedence? How should rare, endemic, or endangered species be factored into valuation systems? And how can we balance relative measures (percentage change) with absolute measures (species numbers), given the potential impact of these choices on financial flows?

By gathering leading experts and stakeholders, this symposium will foster dialogue on establishing standardized, reliable, and globally applicable biodiversity monitoring systems. The outcomes will guide the biodiversity credit market toward operational maturity, ensuring effective resource allocation and measurable conservation gains.