Nature Positive Role of the Automotive Sector

219. Volkswagen Group. (2023, 23 October). Federal government and Hamburg put autonomous ridepooling project on the road. [Press release]. https://www.volkswagen-group.com/en/articles/federal-government-and-hamburg-put- autonomous-ridepooling-project-on-the-road-17788. 220. CNBC. (2024, 5 April). China’s Nio to expand battery swap services to gain an edge on EV infrastructure. https://www.cnbc.com/2024/04/05/chinas-nio-to-expand-battery-swap-services-to-gain-ev-infra-edge-.html . 221. While “compensation” can be treated as synonymous with “offseting”, as aligned with IUCN’s approach, in this report “compensation” is a more general term of which biodiversity offsets are just one subset. Compensation may achieve NNL or BNG (in which case it is an offset), but in other cases, compensation can involve reparation that falls short of achieving NNL (and is therefore not an offset). 222. International Union for Conservation of Nature (IUCN). (2016). Issue Brief: Biodiversity Offsets. https://iucn.org/sites/default/files/2022-04/biodiversity_offset_issues_briefs_final_0.pdf. 223. International Union for Conservation of Nature (IUCN). (2023). Nature positive for business. https://portals.iucn.org/library/ sites/library/files/documents/2023-023-En.pdf. 224. The Nature Conservancy (TNC). (2015). Achieving Conservation and Development: 10 Principles for Applying the Mitigation Hierarchy. https://www.conservationgateway.org/Documents/TNCApplyingTheMitigationHierarchy.pdf. 225. United Nations Environment Programme (UNEP). (2012). Biodiversity offsets: voluntary and compliance regimes. https://files.ctctcdn.com/b3b328ed001/7b1aaa64-234c-4918-abb8-27a30c51ac03.pdf. 226. International Union for Conservation of Nature (IUCN). (2016). Policy on Biodiversity Offsets. https://iucn.org/sites/default/ files/2022-06/iucn_biodiversity_offsets_policy_jan_29_2016_0.pdf. 227. The Business and Biodiversity Offset Programme (BBOP). (2018). The BBOP Principles on Biodiversity Offsets. https://www.forest-trends.org/wp-content/uploads/2018/10/The-BBOP-Principles_20181023.pdf. 228. International Union for Conservation of Nature (IUCN), The Biodiversity Consultancy and the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF). (2017). Understanding Government Biodiversity Offset Policies in the Mining Sector. https://iucn.org/sites/default/files/2022-06/understanding_government_biodiversity_offset_ policies_in_the_mining_sector_november_2017.pdf. 229. There is lively debate about whether voluntary within- and out-of-value chain conservation and restoration could be used to take responsibility for unmitigated biodiversity impacts, which is out of the scope of this report. For more information on the concerns and guardrails to be put in place for corporates considering investing in biodiversity credits specifically, see: World Economic Forum. (2023). Biodiversity Credits: A Guide to Support Early Use with High Integrity. https://www3. weforum.org/docs/WEF_Biodiversity_Credits_A_Guide_to_Support_Early_Use_with_High_Integrity_2023.pdf. 230. Volkswagen Group. (n.d.). Nature. https://www.volkswagen-group.com/en/nature-18174. 231. Mahindra. (2023). Planet Positive: Sustainability Report 2022-23. https://www.mahindra.com/sites/default/files/2023-10/ Mahindra-Sustainability-Report-2022-23.pdf. 232. The Paulson Institute, The Nature Conservancy, Cornell Atkinson Center for Sustainability. (2020). Financing Nature: Closing the Global Biodiversity Financing Gap. https://www.paulsoninstitute.org/wp-content/uploads/2020/10/ FINANCING-NATURE_Full-Report_Final-with-endorsements_101420.pdf. 233. Reuters. (2022). German-funded consortium to develop ‘battery passport’ for Europe. https://www.reuters.com/ technology/german-funded-consortium-develop-battery-passport-european-batteries-2022-04-25/. 234. Battery Pass. (2024. 11 April). First-of-its-kind analysis by Battery Pass Consortium reveals benefits – and challenges – of European Battery Passport [Press release]. https://thebatterypass.eu/news/press-release-first-of-its-kind-analysis-by- battery-pass-consortium-reveals-benefits-and-challenges-of-eu-passport/. 235. Global Battery Alliance (GBA). (n.d.). Action Partnerships: Battery Passport. https://www.globalbattery.org/battery- passport/. 236. World Economic Forum. (2023). The “No-Excuse” Framework to Accelerate the Path to Net-Zero Manufacturing and Value Chains. https://www.weforum.org/publications/the-no-excuse-framework-to-accelerate-the-path-to-net-zero- manufacturing-and-value-chains/. 237. BMW Group. (26 July 2023). Seven Automakers Unite to Create a Leading High-Powered Charging Network Across North America. [Press release]. https://www.press.bmwgroup.com/global/article/detail/T0425639EN/seven-automakers- unite-to-create-a-leading-high-powered-charging-network-across-north-america?utm_source=article-extern&utm_ campaign=BMW%20Group%20PressClub%20Global&utm_medium=Email. 238. Electrify America. (n.d.). Home. https://www.electrifyamerica.com/. 239. World Economic Forum. (2021). Raising Ambitions: A new roadmap for the automotive circular economy. https://www.weforum.org/publications/raising-ambitions-a-new-roadmap-for-the-automotive-circular-economy/. 240. World Economic Forum. (2020). The Road Ahead: A policy research agenda for automotive circularity. https://www.weforum.org/publications/the-road-ahead-a-policy-research-agenda-for-automotive-circularity/. 241. World Wide Fund for Nature (WWF). (2024). Bringing Batteries Production to Europe – in a Green and Responsible Way. https://www.wwf.de/fileadmin/fm-wwf/Publikationen-PDF/Wald/wwf-study-green-responsible-batterie-production-eu.pdf. 242. GFANZ’s framework is primarily aimed at financial institutions but can also be applied to firms in the real economy: Glasgow Financial Alliance for Net Zero (GFANZ). (2022). Financial Institution Net-zero Transition Plans: Fundamentals, Recommendations, and Guidance, Final Report. https://assets.bbhub.io/company/sites/63/2022/09/Recommendations- and-Guidance-on-Financial-Institution-Net-zero-Transition-Plans-November-2022.pdf. 243. UN Environment Programme World Conservation Monitoring Centre (UNEP-WCMC). (2024). Exploring Natural Capital Opportunities, Risks and Exposure. https://encorenature.org/en. Nature Positive: Role of the Automotive Sector 60