Note: Chapter 2 of the ERC Engagement Paper outlines our current thinking on what is required for a high-integrity ERC.
This includes alignment with relevant standards from the BSI Nature Investment Standards Programme and Scottish Government principles for responsible investment in natural capital. High priority BSI principles for consideration in the development of the ERC include:
- (a) additionality
- (b) permanence and durable / lasting benefits
- (c) quantification of units
- (d) various other principles relating to monitoring, reporting and verification (MRV)
There are also important to decisions to make in relation to stacking and bundling in the ERC. Stacking of ERC nature credits with other ecosystem services (e.g. carbon) may be attractive in theory but challenging to implement in practice.
