The issue of biodiversity credits, how they work and whether they could benefit Bermuda will be the subject of the first talk in a new series of lunch and learns.

The Bermuda Environmental Sustainability Taskforce and Bermuda College have joined forces to hold a new Eco Lunch & Learn series.

In the first, on October 26, Karen Nagel, the founder and chief executive of Triangle Carbon Strategies, will explain what carbon and biodiversity credits are, their origin and how Bermuda could benefit from corporate desire to invest in nature.

A BEST spokeswoman said: “Karen has established a platform for Bermuda biodiversity projects that will eventually enable us to develop methodologies for biodiversity credits that can be used globally and also sold locally to generate future funding for Bermuda environmental projects.

“Karen has spent most of her working life focused on finance but involvement with the Bermuda charity sector, together with a long-held interest in the environment and sustainability, led her to study sustainable development at SOAS, University of London.”

Amy Harvey, the Earth and Environmental Science lecturer at the Bermuda College, added: “Carbon credits were first introduced in 1997 as part of the United Nations Kyoto Protocol, which focused on reduction of carbon dioxide emissions.

“Countries were encouraged to reduce carbon emissions by 5 per cent of 1990 levels. Out of this protocol a Clean Development Mechanism arose that allowed industrialised countries to offset their emissions by buying from countries that did not emit as much.

“While it seems like a logical system it is one that has not necessarily been successful in that there are more sellers than buyers.

“Also, it must be considered if it makes sense for your country. For example, does it make sense for a small island like Bermuda that may not have the landmass to sell enough carbon credits to make financial sense?

‘Biodiversity credits are a new mechanism that Bermuda should certainly explore. Our island is located within the Sargasso Sea, which has a diverse ecosystem that produces 20 per cent of the world’s oxygen. That is one in every five breaths we take.“

Jennifer Flood, BEST executive officer added: “The vision that Karen has for the formation of a company based in Bermuda designed to sell biodiversity credits is exciting and full of possibilities.

“Imagine the number of local sustainable and biodiverse projects benefiting from this — everything from agriculture to reef ecology along with all the organisations promoting biodiversity and sustainability.

“Not only this, but imagine a Bermuda where local students who left to study the sciences could return knowing they have plenty of employment opportunities back at home to develop and enhance their skills.“

The event takes place on October 26 from 1pm to 2pm either in-person at Bermuda College, Athene Room H100, on The Bermuda College Facebook page, www.facebook.com/TheBermudaCollege, or on Zoom: www.youtube.com/watch?v=WeciwZspN8s&ab_channel=BermudaCollege

The presentation is followed by a Q&A. If attending online, the audience is encouraged to submit questions via the chat options on YouTube and Facebook.