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World Bank to raise $250M for avoided deforestation in tropics mongabay.com June 11, 2007
Tropical deforestation accounts for roughly 20 percent of global greenhouse gas emissions, but slowing deforestation slows emissions of heat-trapping emissions. Researchers estimate that "avoided deforestation" schemes may be one of the most cost effective ways to slow climate change. Further, avoided deforestation offers simultaneous benefits including preservation of ecosystem services and biodiversity. The Wall Street Journal reports that the World Bank hopes to raise most the $250 million fund from G8 nations. Related articles
(5/10/2007) Scientists have lent support to a plan by developing countries to fight global warming by reducing deforestation rates. Tropical deforestation releases more than 1.5 billion metric tons of carbon into the atmosphere every year, though in some years, like the 1997-1998 el Niño year when fires released some 2 billion tons of carbon from peat swamps alone in Indonesia, emissions are more than twice that. Writing in the journal Science, an international team of scientists argue that the Reducing Emissions from Deforestation (RED) initiative, launched in 2005 by the United Nations Framework Convention on Climate Change, is scientifically and technologically sound, and that political and economic challenges facing the plan can be overcome. Extortion or global warming mitigation? (5/24/2007) Marketwatch reported more details on Ecuador's proposal to forgo development of Amazonian oil fields in exchange for payments from industrialized nations. Last month Ecuadorian President Rafael Correa said that if the South American country is compensated with half of the forecasted lost revenues, it will not exploit oil in Yasuni National Park, setting aside the area for wildlife and indigenous people. Correa said the cost would be about $350 million per year. Avoided deforestation could send $38 billion to third world under global warming pact (10/31/2006) Avoided deforestation will be a hot point of discussion at next week's climate meeting in Nairobi, Kenya. Already a coalition of 15 rainforest nations have proposed a plan whereby industrialized nations would pay them to protect their forests to offset greenhouse gas emissionsm. Meanwhile, last month Brazil -- which has the world's largest extent of tropical rainforests and the world's highest rate of forest loss -- said it promote a similar initiative at the talks. At stake: potentially billions of dollars for developing countries. When trees are cut greenhouse gases are released into the atmosphere -- roughly 20 percent of annual emissions of such heat-trapping gases result from deforestation and forest degradation. Avoided deforestation is the concept where countries are paid to prevent deforestation that would otherwise occur. Policymakers and environmentalists alike find the idea attractive because it could help fight climate change at a low cost while improving living standards for some of the world's poorest people and preserving biodiversity and other ecosystem services. A number of prominent conservation biologists and development agencies including the World Bank and the U.N. have already endorsed the idea. World Bank says carbon trading will save rainforests (10/23/2006) Monday the World Bank endorsed carbon trading as a way to save tropical rainforests which are increasingly threatened by logging, agricultural development, subsistence agriculture, and climate change itself. The World Bank report comes on the heels of a proposal by a coalition of developing countries to seek compensation from industrialized countries for conserving their rainforests to fight global warming. Brazil is expected to announce a similar plan at upcoming climate talks in Nairobi. Globalization could save the Amazon rainforest (6/3/2007) The Amazon basin is home to the world's largest rainforest, an ecosystem that supports perhaps 30 percent of the world's terrestrial species, stores vast amounts of carbon, and exerts considerable influence on global weather patterns and climate. Few would dispute that it is one of the planet's most important landscapes. Despite its scale, the Amazon is also one of the fastest changing ecosystems, largely as a result of human activities, including deforestation, forest fires, and, increasingly, climate change. Few people understand these impacts better than Dr. Daniel Nepstad, one of the world's foremost experts on the Amazon rainforest. Now head of the Woods Hole Research Center's Amazon program in Belem, Brazil, Nepstad has spent more than 23 years in the Amazon, studying subjects ranging from forest fires and forest management policy to sustainable development. Nepstad says the Amazon is presently at a point unlike any he's ever seen, one where there are unparalleled risks and opportunities. While he's hopeful about some of the trends, he knows the Amazon faces difficult and immediate challenges. More carbon finance news Comments? News options
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