You can download a DRM-free copy of this standard here.
What is BSI Flex 704 v2.0 about?
A healthy water environment is vital for people, nature, and a resilient economy. BSI Flex 704 v2.0 supports the growth of high-integrity markets for nature-based solutions to reduce nutrient pollution in waterbodies.
As part of a wider Nature Investment Standard (NIS) framework, the standard builds on the overarching principles standard, BSI Flex 701 v2.0, with added criteria specific to the nutrients market activities and processes.
It has been updated based on industry feedback and is now ready for adoption.
What does the standard cover?
The standard specifies requirements for voluntary and compliance nutrient markets, covering credible ways to identify a high-integrity nutrient credits activity and process.
It’s intended to:
- Support increased supply of nutrient reduction and removal activities under a consistent and robust set of criteria.
- Align with international good practices.
- Act as a specification, alongside BSI Flex 701, against which market participants can seek conformity assessment to signal their high integrity.
- Provide criteria for methods that enable robust quantification in a consistent manner.
Who is this specification for?
This specification is intended for use by:
- nutrient market participants;
- nutrient market intermediaries, including nutrient-crediting programmes that are needed for this BSI Flex to be met;
- registries; and
- other stakeholders in nutrient markets or in the environmental outcomes of trading nutrient credits.
It might be of interest to:
- buyers of nutrient credits;
- investors in nutrient projects or schemes;
- service providers;
- non-governmental organizations (NGOs);
- regulators;
- policy developers; and
- academics.
What’s changed compared with v1.0?
The standard has been revised, using the iterative BSI Flex process, based on industry feedback gained during the public consultation on v1.0.
Key changes include:
- Aligning scope, definitions, and requirements across the suite of Nature Investment Standards.
- Improving governance requirements to make them clearer.
- Strengthening requirements to support the robust quantification of units that define credits.
- Including requirements for engagement with local communities.
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