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News articles on carbon finance
Mongabay.com news articles on carbon finance in blog format. Updated regularly.
(03/30/2014) A UN program to reduce global carbon emissions may be putting indigenous communities at risk, jeopardizing local land rights and laying the groundwork for large-scale “carbon grabs” by governments and private investors, argues a new report.
U.N.: We can save world's forests at a fraction of cost of fossil fuels subsidies
(03/21/2014) Investing $30 billion a year in forest conservation — less than seven percent of the $480 billion spent annually on fossil fuels subsidies — could help stop deforestation while accelerating a transition toward a greener global economy, asserts a new report published by the International Resource Panel (IRP) and the UN REDD Programme.
Microsoft buys Madagascar carbon credits
(02/15/2014) Technology giant Microsoft has bought the first carbon credits generated under a rainforest conservation project in Madagascar, reports Wildlife Conservation Society (WCS), which organized and backed the initiative.
REDD+ should finance corridors between protected areas, argues study
(02/14/2014) The Reducing Emissions from Deforestation and Forest Degradation (REDD+) program should finance protection of corridors linking existing protected areas in order to better safeguard biodiversity while simultaneously helping mitigate climate change, argues a study published last month in Nature Climate Change.
Reduced impact logging failing to cut emissions in Indonesia
(02/10/2014) Advocates for reduced impact logging in tropical forests often make a case that better forest management cuts carbon emissions relative to traditional forms of timber harvesting. While the argument for altering logging approaches to limit forest damage makes intuitive sense, a new study suggests that the carbon benefits may not bear out in practice.
Next big idea in forest conservation? Incentivizing keeping primary forests intact
(02/07/2014) Much of Dr. Corey Bradshaw's work has a singular aim: to keep primary habitats and functioning ecosystems intact. According to Bradshaw, the existing system of carbon trading rules needs to be changed so that primary forests are given a higher value than other forms of land use. 'Nothing, can replace primary vegetation, both in terms of biodiversity value and other ecosystem services.'
REDD+ could fail without near-term financial support
(02/06/2014) An ambitious plan to save the world's tropical forests by valuing them for the carbon the store may fail to reduce deforestation unless governments and multilateral institutions significantly scale up financial commitments to the program, argues a new report published by the Global Canopy Programme, the Amazon Environmental Research Institute, Fauna & Flora International, and UNEP Finance Initiative.
REDD+ program to cut deforestation gets final approval in Warsaw
(11/22/2013) Negotiators in Warsaw have reached formal agreement on Reducing Emissions from Deforestation and Degradation (REDD+), a program that aims to compensate tropical countries for protecting their forests. After seven years of discussions, countries approved the final REDD+ text on Friday at the COP17.
Govts pledge $280M to slow deforestation for agriculture
(11/21/2013) The governments of Norway, Britain and the United States pledged $280 million toward a new initiative that aims to reduce emissions associated with forest conversion for agriculture, reports Reuters. The money will come out of previously committed funds for climate change. The initiative, called the BioCarbon Fund Initiative for Sustainable Forest Landscapes and administered by the World Bank, focuses on the 80 percent of deforestation that is driven by agriculture.
Is Australia becoming the new Canada in terms of climate inaction?
(11/14/2013) For many concerned about climate change, Australia has suddenly become the new Canada. With the election of Tony Abbott as Prime Minister in September, the land down under has taken a sudden U-turn on climate policy, including pushing to end its fledgling carbon emissions program which was only implemented in 2012 and cutting funding for renewable energy. These move come at a time when Australia has just undergone its warmest 12 months on record and suffered from record bushfires.
REDD+ carbon market stabilizes, but risk of supply glut looms
(11/13/2013) The market for carbon credits generated under projects that reduce emissions from deforestation and forest degradation (REDD) showed signs of stabilizing in 2012 after a sharp drop in 2011, finds Forest Trends' new assessment of the global forest carbon market. The report shows that offsets representing 8.6 million metric tons of carbon dioxide were transacted in 2012, a 16 percent increase over 2011. But the average value of each credit dipped 8 percent from $8.50 to $7.80. Nonetheless the activity suggests the market of REDD+ credits may have stabilized after the volume fell 62 percent between 2010 and 2011.
With training, local communities can accurately and cost-effectively measure forest carbon
(10/29/2013) Provided two to three days of training, forest communities can accurately and cost-effectively measure biomass and other data needed to assess REDD+ projects, finds a new study published in the journal Ecology and Society.
3 Peruvian states join sub-national push for REDD+
(10/11/2013) An initiative that is developing a framework for REDD+ programs at state and provincial levels gained three more members last week.
California's next innovation: performance-based rainforest conservation (Commentary)
(07/22/2013) Californians are known as innovation leaders, and once again, we are on the verge of demonstrating critical leadership. Only this time it isn’t about the Internet, social networking, reality television, venture capital or electric cars. It is about stopping tropical deforestation and supporting local communities. 'What!?' you say? How is the great state of California, home of bankrupt and massive, thirsty desert cities and Silicon Valley, a place that elected such juggernauts of history as Ronald Reagan and Arnold Schwarzenegger, about to lead in avoiding tropical deforestation?
Deforestation rate falls in Congo Basin countries
(07/22/2013) Deforestation has fallen in Congo Basin countries over the past decade despite a sharp increase in the rate of forest clearing in the Democratic Republic of the Congo, according to a new study published in the Philosophical Transactions of the Royal Society B as part of a set of 18 papers on the region's tropical forests. The special issue, which was put together by Oxford University's Yadvinder Malhi, covers a range of issues relating to the rainforests of the Congo Basin, including deforestation, the impacts of global change, the history and key characteristics of the region's forests, and resource extraction, among others.
Panel lays out best practices for REDD+ credits in California's carbon market
(07/19/2013) A panel of scientific experts has released a final report outlining how carbon credits generated from tropical forest conservation could be used under California's cap-and-trade system while minimizing risks to forest-dependent communities and wildlife.
Billions lost to corruption in Indonesia’s forest sector, says report
(07/17/2013) Corruption and mismanagement in Indonesia’s forest sector have cost the government billions of dollars in losses in recent years, including over $7 billion in losses from 2007-2011, Human Rights Watch said in a report released yesterday. The report also blasted the country’s 'green growth' strategy, saying that despite recent reforms, Indonesia’s forestry policies as they are implemented today continue to allow widespread forest clearing and threaten the rights and livelihoods of forest-dependent communities.
Australia terminates landmark REDD+ project in Borneo
(07/03/2013) Australia is ending its major forest restoration project in Indonesian Borneo, reports the Sydney Morning Herald.
Why Panama's indigenous pulled out of the UN's REDD program
(06/25/2013) This week in Lombok, Indonesia, the Policy Board of the United Nations climate change program known as UNREDD is addressing the first major test of the 2007 UN Declaration on the Rights of Indigenous Peoples of the United Nations, which recognizes the right of Indigenous People to stop projects in their territories that could endanger their traditions and livelihoods. The National Coordinating Body of the Indigenous People of Panama pulled out of UNREDD’s national program in February and have called on the United Nations to close the program.
Indonesia's first REDD project finally approved
(05/30/2013) Rimba Raya, the world's largest REDD+ project, has finally been approved by the Indonesian government and verified under the Verified Carbon Standard (VCS), a leading certification standard for carbon credits.
Indigenous carbon conservation project gets verification, will start generating credits
(05/30/2013) An effort by an Amazonian tribe to protect their rainforest home against encroachment and illegal logging has finally been validated and verified under a leading carbon accounting standard, enabling it to begin selling carbon credits.
Indigenous association to sue to shut down Panama's REDD+ program
(05/17/2013) Panama's largest association of indigenous people will sue the Panamanian government to shut down the country's Reducing Emissions from Deforestation and Degradation (REDD+) program.
Debate heats up over California's plan to reduce emissions via rainforest protection
(05/07/2013) As the public comment period for California's cap-and-trade program draws to a close, an alliance of environmental activists have stepped up a heated campaign to keep carbon credits generated by forest conservation initiatives in tropical countries out of the scheme. These groups say that offsets generated under the so-called Reducing Emissions from Deforestation and Degradation (REDD+) mechanism, will undermine efforts to cut emissions as home, while potentially leading to abuses abroad. However supporters of forest conservation-based credits say the program may offer the best hope for saving the world's beleaguered rainforests, which continue to fall at a rate of more than 8 million hectares per year.
Indigenous tribes say effects of climate change already felt in Amazon rainforest
(04/30/2013) Tribal groups in Earth's largest rainforest are already being affected by shifts wrought by climate change, reports a paper published last week in the British journal Philosophical Transactions of the Royal Society B. The paper, which is based on a collection of interviews conducted with indigenous leaders in the Brazilian Amazon, says that native populations are reporting shifts in precipitation patterns, humidity, river levels, temperature, and fire and agricultural cycles. These shifts, measured against celestial timing used by indigenous groups, are affecting traditional ways of life that date back thousands of years.
What if companies actually had to compensate society for environmental destruction?
(04/29/2013) The environment is a public good. We all share and depend on clean water, a stable atmosphere, and abundant biodiversity for survival, not to mention health and societal well-being. But under our current global economy, industries can often destroy and pollute the environment—degrading public health and communities—without paying adequate compensation to the public good. Economists call this process "externalizing costs," i.e. the cost of environmental degradation in many cases is borne by society, instead of the companies that cause it. A new report from TEEB (The Economics of Ecosystems and Biodiversity), conducted by Trucost, highlights the scale of the problem: unpriced natural capital (i.e. that which is not taken into account by the global market) was worth $7.3 trillion in 2009, equal to 13 percent of that year's global economic output.
6 lessons for stopping deforestation on the frontier
(04/09/2013) In 1984, at the tail end of the Brazilian dictatorship, I took up residence in a frontier town called Paragominas in the eastern Amazon. I went to study rainforests and pasture restoration, but soon became captivated as well by the drama of the frontier itself. Forests were hotly contested among cattle ranchers, smallholder communities, land speculators and more than a hundred logging companies, sometimes with fatal results. If we are to meet rising global demand for food, conserve tropical forests, and mitigate climate change at the pace that is necessary, we must become much better at taming aggressive, lawless tropical forest frontiers where people are making a lot of money cutting forests down.
Carbon Markets or Climate Finance - book review
(03/25/2013) Carbon markets or climate finance? This is the question posed by Carbon Markets or Climate Finance, edited by Axel Michaelowa. First of all, let’s define climate finance as the financial resources used to mitigate and adapt to climate change.
Disney buys $3.5M in REDD credits from rainforest conservation project in Peru
(03/20/2013) The Walt Disney Company has purchased $3.5 million dollars' worth of carbon credits generated via rainforest conservation in Peru, reports Point Carbon.
The need to jump-start REDD to save forests
(03/08/2013) At least US$7.3 billion has been pledged for REDD+ over the period from 2008 to 2015, with $4.3 billion pledged for REDD+ readiness during the fast-start period alone (2010-2012). In addition to these funds, private investors, private foundations, and others have been channeling financial support to developing countries for REDD+ and related programs for several years now.
A promising initiative to address deforestation in Brazil at the local level
(03/05/2013) The history of the Brazilian Amazon has long been marked by deforestation and degradation. Until recently the situation has been considered out of control. Then, in 2004, the Brazilian government launched an ambitious program to combat deforestation. Public pressure—both national and international—was one of the reasons that motivated the government to act. Another reason was that in 2004, deforestation contributed to more than 55 percent of Brazil’s total greenhouse gas emissions, making Brazil the fourth-largest greenhouse gas emitter in the world.
Can saving forests help feed the world?
(02/28/2013) As world population climbs from 7 to a projected 9 billion people and emerging and developing economies demand ever more of the food and fiber that drive deforestation, many environmentalists ask with increasing urgency whether and how tropical forests can survive. But the question may actually be whether and how the world’s increasing, and increasingly rich, population can be fed unless tropical forests survive.
Finance and carbon markets dictionary with English and Spanish versions
(02/07/2013) The United States Agency for International Development (USAID) recently released a lexicon—or dictionary—of carbon finance and markets terms.
World Bank's forestry investments failing to meet conservation, rights, and anti-poverty goals, finds internal audit
(01/30/2013) The World Bank's investments in forestry over the past decade have failed to meet key objectives of reducing poverty, preserving forests, slowing climate change, or benefitting local communities, according to a report developed by its internal auditing body.
Experts outline how REDD+ credits could fit into California's cap-and-trade program
(01/27/2013) Carbon credits generated by forest conservation activities in tropical countries could play a role in California's cap-and-trade program, helping mitigate climate change and providing benefits to local communities, said a panel of experts on Friday.
World Bank REDD+ forest carbon fund gets $180m injection
(01/11/2013) The World Bank's forest carbon fund got a $180 million injection from Finland, Germany and Norway, reports Point Carbon.
The year in rainforests
(12/31/2012) 2012 was another year of mixed news for the world's tropical forests. This is a look at some of the most significant tropical rainforest-related news stories for 2012. There were many other important stories in 2012 and some were undoubtedly overlooked in this review. If you feel there's something we missed, please feel free to highlight it in the comments section. Also please note that this post focuses only on tropical forests.
Norway to send Guyana $45m for maintaining low deforestation rate
(12/24/2012) Norway will pay Guyana $45 million for maintaining its low deforestation rate under a climate partnership between the two countries.
DR Congo gets first validated and verified REDD+ project
(12/20/2012) The Democratic Republic of the Congo (DRC) has its first Reducing Emissions from Deforestation and Degradation (REDD+) project validated and verified under the Verified Carbon Standard (VCS).
Brazil sues to block unlicensed REDD deal between Irish company and indigenous group
(12/17/2012) Brazil's Attorney General Office has filed a lawsuit against an Irish company and an indigenous group for unlicensed sales of carbon credits generated from an reducing emissions from deforestation and degradation (REDD+) project, reports Reuters Point Carbon.
Reducing the risk that REDD+ will shift conservation funding away from biodiverse forests
(12/10/2012) One of the major concerns about the Reducing Emissions from Deforestation and Degrdatation (REDD+) program is that it could prioritize conservation of high carbon ecosystems like peatlands over high biodiversity landscapes, effectively shifting conservation funding away key wildlife-rich areas. A new paper, published in Tropical Conservation Science, analyzes the issue and suggests approaches that could reduce the potential detrimental impacts of REDD+ on biodiversity.
Climate Summit in Doha characterized by lack of ambition
(12/09/2012) Ahead of the 18th United Nations Framework Convention on Climate Change (UNFCCC) in Doha, Qatar a variety of reports warned that the world was running out of time to avoid dangerous climate change, and that there was a widening gap between what nations have pledged to do and what the science demanded. A landmark report by the World Bank painted an almost apocalyptic picture of a world in which global temperatures have risen 4 degrees Celsius above pre-industrial levels, including unprecedented heatwaves and droughts, rising sea levels, global agriculture crises, and a stunning loss of species. In addition, scientific studies released near the two week conference found that sea levels were rising 60 percent faster than predicted, forests around the world were imperiled by increasing drought, marine snails were dissolving in the Southern Ocean due to ocean acidification, and ice melt in Greenland and Antarctica was on the rise.
Indonesia approves first REDD+ project in Borneo
(12/05/2012) The Indonesian government has approved its first REDD+ project to reduce emissions from deforestation and peatlands degradation, reports President Susilo Bambang Yudhoyono's office.
REDD+ negotiations in Doha at impasse, potentially delaying decisions on safeguards another year
(12/03/2012) Negotiations over a program that would pay tropical countries for reducing greenhouse gas emissions from deforestation and degradation — or REDD+ — are stuck at an impasse over how emissions reductions would be verified, reports Ecosystem Marketplace. The disagreement, which has been characterized as a standoff between Brazil, which is potentially a beneficiary of REDD+, and Norway, which is the world's largest funder of tropical forest conservation, could push any final decisions on REDD+ out another year.
5 years in, debates over REDD+ continue
(11/28/2012) An initiative that aims to slow global warming by paying developing countries to protect and better manage their forests is expected to be an important storyline during climate talks in Doha this week and next. REDD+ (Reducing Emissions from Deforestation and Degradation), as the mechanism is known, has grown in complexity since it gained momentum during the 2005 climate talks in Montreal, but is arguably moving forward faster than other areas of climate negotiations. Still, many elements of REDD+ continue to be as hotly debated today as they were five years ago when it got the conceptual OK from the U.N. These include the process for establishing baselines to measure reductions in emissions, safeguards to protect against adverse outcomes for biodiversity and forest-dependent communities, and financing and markets.
Colombia gets world's first VCS validated and verified REDD project on collective lands
(11/16/2012) A conservation project in Colombia has broken new ground in the world of forest carbon credits. The project, run as partnership between an Afro-indigenous community and a Colombian company, is the first REDD+ project certified under the Verified Carbon Standard (VCS) in Colombia. More importantly, it is also the first certified REDD+ project on community-owned, collectively-titled land.
Norway to double carbon tax on oil industry for climate change programs
(10/15/2012) Beginning next year, Norway will nearly double the carbon tax on its domestic oil industry to help set up a $1 billion climate change fund for programs in developing nations among other green projects. The Scandinavian nation is the world's 13 largest oil producer and third biggest oil exporter, yet has been one of the most active champions of funding climate change projects.
Commentary: Protecting the people, not the polluters, says Greenpeace
(09/27/2012) Greenpeace is dedicated to ending deforestation and preventing catastrophic climate change. We are often recognized for putting our lives and freedoms on the line to accomplish these goals. In the U.S. alone, Greenpeace is campaigning to save ancient forests, speaking out against the coal industry; mobilizing millions to save the arctic from new oil drilling; and pushing key industries to commit to renewable energy.
Commentary: Greenpeace report threatens climate change mitigation and tropical forests
(09/25/2012) From 2008 through 2010, deforestation in the states of the Brazilian Amazon declined steeply, lowering reductions in CO2 emissions to the atmosphere by approximately 1.5 billion tons. During this same period, the 30 nations that participate in the world’s largest carbon market—the European Union’s “Emissions Trading Scheme” (EU ETS)—reduced emissions by about 1.9 billion tons (Figure 1). There is an important difference between these two extremely important steps towards emissions reductions. The first was achieved through climate-related donations of approximately US$ 0.47 billion. The second involved financial transactions of US$ 411 billion—roughly 875 times more money. Greenpeace’s new report , Outsourcing Hot Air, could help to slow—or reverse—the progress of tropical states and provinces around the world in reducing emissions from deforestation and forest degradation (REDD).
Greenpeace targets forest carbon offsets in California's cap-and-trade
(09/25/2012) California's inclusion of forest conservation-based carbon offsets in its climate change legislation may not lead to net reductions in greenhouse gas emissions and could exacerbate social conflict in places like southern Mexico, argues a report released Monday by Greenpeace. But the activist group faced sharp criticism from backers of California's initiative.
Mangrove deforestation 3x worse for climate than rainforest loss
(09/07/2012) Degradation and destruction of the world's seagrasses, tidal marshes, and mangroves may generate up to a billion tons in carbon dioxide emissions annually, reports a new study.
Indigenous groups in Panama wait for UN REDD to meet promises
(08/30/2012) A dispute over the implementation of REDD+ (Reducing Emissions from Deforestation and Degradation) in Panama has pitted the United Nations (UN) against the nation's diverse and large indigenous groups. Represented by the National Coordinator of Indigenous Peoples in Panama (COONAPIP), indigenous groups charge that the UN has failed to meet several pledges related to kick-starting REDD+ with their support, including delaying a $1.79 million payment to the group to begin REDD+-related activities. The on-going dispute highlights the perils and complexities of implementing REDD+, especially concerns that the program might disenfranchise indigenous groups who have long been the stewards of their forest territories.
Madagascar gets biggest protected area
(08/17/2012) Madagascar officially designated its largest protected area in a region renowned for its tropical rainforests and rich diversity of wildlife, including 20 species of lemurs, reports the Wildlife Conservation Society (WCS), a group that was instrumental in establishing the park. Makira Natural Park covers some 372,470 hectares of forest in northeastern Madagascar, the most biodiverse part of the island nation.
Mangroves should be part of solution to climate change
(08/02/2012) Mangroves are under-appreciated assets in the effort to slow climate change, argues a new Proceedings of the National Academy of Sciences paper which makes a argument for including the coastal ecosystems in carbon credit programs.
Greenpeace calls for global REDD standards to reduce negative impacts of forest carbon projects
(06/26/2012) Greenpeace has launched a consultation process to establish global standards for Reducing Emissions from Deforestation and Degradation (REDD+) projects.
Deforestation accounts for 10 percent of global carbon emissions, argues new study
(06/21/2012) Tropical deforestation accounted for 10 percent of global carbon dioxide emissions between 2000-2005 — a substantially smaller proportion than previously estimated — argues a new study published in Science. The paper estimates gross carbon emissions from deforestation at 810 million metric tons (with a 90 percent confidence interval of 0.57-1.22 billion tons) per year from 2000-2005, significantly below earlier calculations. Brazil and Indonesia accounted for 55 percent of gross emissions from tropical deforestation during the study period, while dry forests accounted for 40 percent of tropical forest loss but amounted to only 17 percent of emissions.
Challenges mount as forest carbon payment approaches move from theory to practice
(06/20/2012) The concept of paying tropical countries to reduce destruction of their forests is succeeding as an idea but suffering from implementation challenges, argues a new review by the Center for International Forestry Research (CIFOR).
In Rio, 5 big companies to launch initiative to boost demand for REDD+ carbon credits
(06/16/2012) Five large corporations have launched an effort to boost demand for carbon credits from 'high quality' Reducing Emissions from Deforestation and Degradation (REDD+) projects in tropical countries.
For Earth Day, 17 celebrated scientists on how to make a better world
(04/22/2012) Seventeen top scientists and four acclaimed conservation organizations have called for radical action to create a better world for this and future generations. Compiled by 21 past winners of the prestigious Blue Planet Prize, a new paper recommends solutions for some of the world's most pressing problems including climate change, poverty, and mass extinction. The paper, entitled Environment and Development Challenges: The Imperative to Act, was recently presented at the UN Environment Program governing council meeting in Nairobi, Kenya.
Amazon tribe becomes first to get OK to sell REDD credits for rainforest conservation
(04/12/2012) An Amazon tribe has become the first indigenous group in the world's largest rainforest to win certification of a forest carbon conservation project, potentially setting a precedent for other forest-dependent groups to seek compensation for safeguarding their native forests.
Our success in transforming commodity markets will determine nature's fate
(04/01/2012) The success of governments and big corporations in eliminating environmental degradation from the products we consume will play a critical role in determining the fate of the world's remaining wild places, said a group of experts speaking at a panel during the Skoll World Forum on Social Entrepreneurship.
Brazil's indigenous affairs ministry: $32B carbon deal not valid
(03/28/2012) An apparent carbon deal between an Irish carbon trading company and an indigenous tribe that sparked outrage in Brazil is "invalid" according to the president of FUNAI, Brazil's indigenous affairs agency.
As world bodies dally, private sector, local governments forge ahead on valuing nature
(03/28/2012) Despite slow progress via the U.N. process and other intergovernmental bodies, national governments, municipalities, and the private sector are moving ahead with initiatives to measure and compensate the value of services afforded by ecosystems, said a leading forestry expert speaking on the sidelines of the Skoll World Forum on Social Entrepreneurship meeting this week in Oxford.
Australia-led peat conversation project in Borneo failing to deliver on hype
(03/27/2012) A $100 million peat conservation project launched in the heart of Indonesian Borneo by the Australian government has been dramatically scaled back and is largely failing to meet expectations, hampering efforts to develop an effective Reducing Emissions from Deforestation and forest Degradation (REDD+) program in Indonesia, concludes a new analysis published by researchers at Australian National University.
Colombian community leader talks about REDD
(02/21/2012) A pioneering project to reduce deforestation and forest degradation in a former conflict zone in Colombia has won gold certification under the Climate, Community, and Biodiversity (CCB) standard. The accreditation will help local communities access carbon finance in their efforts to safeguard biologically-rich forests. The project is located in Colombia's Darien region, near the border with Panama. The area is part of the Chocó, the rainforest ecosystem that runs along the Pacific coast of Colombia and Ecuador but has been heavily affected in places by deforestation. Everildys Cordoba is the project's coordinator on the community side. Cordoba grew up in Penaloza, a small town not far from the Caribbean coast of Colombia and the country's border with Panama. But in 1998, she was forcibly displaced by armed actors. Today, she has returned to her land to lead the project.
California cap-and-trade law spurs U.S. forest carbon projects
(02/15/2012) Now that California's carbon market has arrived, an Australian-based company that specializes in forest carbon offsets has jump started two forest projects with private landowners in the western U.S. The new company, Forest Carbon Partners, will make the projects available as carbon offsets for California polluters.
Logging of primary rainforests not ecologically sustainable, argue scientists
(01/25/2012) Tropical countries may face a risk of 'peak timber' as continued logging of rainforests exceeds the capacity of forests to regenerate timber stocks and substantially increases the risk of outright clearing for agricultural and industrial plantations, argues a trio of scientists writing in the journal Biological Conservation. The implications for climate, biodiversity, and local economies are substantial.
Indonesia could earn billions from well-designed deforestation-reduction program, finds study
(01/12/2012) Indonesia could have earned $5 billion in revenue and avoided 1 billion tons of carbon dioxide emissions between 2000 and 2005 had a reducing emissions from deforestation and degradation (REDD+) program been in place, reports an assessment published in the journal Proceedings of the National Academy of Science.
REDD advances—slowly—in Durban
(12/15/2011) A program proposed to reduce greenhouse gas emissions from deforestation and degradation made mixed progress during climate talks in Durban. Significant questions remain about financing and safeguards to protect against abuse, say forestry experts. REDD+ aims to reduce deforestation, forest degradation, and peatland destruction in tropical countries. Here, emissions from land use often exceed emissions from transportation and electricity generation. Under the program, industrialized nations would fund conservation projects and improved forest management. While REDD+ offers the potential to simultaneously reduce emissions, conserve biodiversity, maintain other ecosystem services, and help alleviate rural poverty, concerns over potential adverse impacts have plagued the program since its conception.
Carbon Coalitions: Business, Climate Politics, and the Rise of Emissions Trading: Book Review
(12/13/2011) Jonas Meckling, PhD., writes the first critical analysis demonstrating how various types of not-for-profit, governmental and for-profit coalitions over the past couple of decades have led to the development of the global carbon market, valued in 2010 at US$ 142 billion.
Tool to track U.S. REDD+ finance released
(12/09/2011) A new online tool allows anyone to check U.S. government financial pledges made toward reducing emissions from deforestation and forest degradation (REDD+) programs in developing countries.
Yasuni ITT: the virtues and vices of environmental innovation
(12/07/2011) As the 17th Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC) is taking place in Durban, Ecuador has embarked on the development of a project presented as highly innovative. This project targets Yasuni National Park, which has been protected since 1979. Yasuni is home to several indigenous peoples and is a biodiversity hotspot. But it so happens that the park also sits atop a vast oil field of 846 million barrels, representing about 20 percent of the country’s oil reserves. The acronym Yasuni ITT stands for Ishpingo-Tambococha-Tiputinin, which are the names of three potential zones for oil extraction.
Jump-starting REDD finance: $3 billion Forest Finance Facility needed to halve deforestation within a decade
(12/06/2011) How to finance a means to reduce deforestation, which contributes emissions equivalent to the entire transport sector combined, has had some encouragement at the UN Climate meeting in Durban this week. An à la carte approach, where no source is ruled out, is emerging, leaving the door open to private sector finance for the first time. And with progress imminent in two other crucial areas of safeguards and reference levels, REDD+, a novel mechanism to halt deforestation, is once more likely to be the biggest winner.
REDD project gets initial go-ahead in Cameroon
(12/05/2011) The government of Cameroon approved a feasibility assessment for the first REDD+ project in the Central African nation, reports the Global Green Carbon Corporation, which is developing the project.
Protections for indigenous rights, biodiversity weakened in latest REDD+ text
(12/04/2011) Safeguards to ensure forest carbon projects protect biodiversity and respect the rights of local and indigenous communities were weakened in the latest draft text on REDD+ at climate talks in Durban, reports CIFOR, a forest policy and research institution. The draft text, which will now move forward to a plenary session for approval, also dropped any decision on financing of REDD+ projects.
Global map of REDD+ projects released
(12/03/2011) The Center for International Forestry Research (CIFOR) on Saturday released a comprehensive map of the world's REDD+ programs. The map includes 340 REDD+ projects, programs, and policies in 52 countries.
REDD+ text for saving forests released in Durban
(12/03/2011) An initial draft text on REDD+ — a proposed mechanism to compensate tropical countries for reducing emissions from deforestation and degradation — has moved forward for discussion and approval at climate talks in Durban.
Sierra Leone creates rainforest park
(12/03/2011) Sierra Leone, one of Africa's poorest countries, today announced the establishment of Gola Rainforest National Park (GRNP), an area of forest home to chimpanzees, a key population of pygmy hippo, and hundreds of bird species, reports the Royal Society for the Protection of Birds (RSPB).
Carbon piracy, lack of recognition of indigenous rights undermining REDD in Peru, alleges report
(11/30/2011) Lack of meaningful consultation with indigenous communities over forest carbon projects is causing social conflict and undermining efforts to responsibly reduce emissions from deforestation and forest degradation in Peru under the REDD mechanism, argues a new report released during international climate talks in Durban.
California finalizes cap-and-trade program
(10/24/2011) Bucking long-stalled efforts in the US to combat global climate change, California has approved final rules for a cap-and-trade program set to go into effect in 2013. The program will require large polluters in California to reduce emissions or to 'trade' emissions on the carbon market with another company or initiative that is sequestering carbon. The rules even allow companies outside the state to participate, creating clean energy incentives across the US.
New study: price carbon at the point of fossil fuel extraction
(10/17/2011) Global carbon emissions are a complicated matter. Currently, officials estimate national fossil fuel-related emissions by what is burned (known as production) within a nation, but this approach underestimates the emissions contributions from countries that extract oil and oil for export. Is there a better way to account for a country's total climate change footprint?
Australia's carbon tax moves closer to reality
(10/12/2011) By a margin of just two votes (74-72), Australia's plan to put a price on carbon passed its toughest hurdle today. It is now expected that the Australian legislator will moved forward to put the carbon tax into law. The carbon tax, pushed aggressively by Australian Prime Minister Julia Gillard, was just as ferociously opposed by business leaders and opposition party leader, Tony Abbott.
Should public or private money finance efforts to save forests?
(10/11/2011) The 11th Rights and Resources Initiative Dialogue on Forests, Governance and Climate Change in London, which will focus on The Status and Role of Public and Private Finance to Reduce Forest Loss and Degradation. The goal of the RRI Dialogue is to examine the current state of public and private financial mechanisms for REDD+ and adaptation and contribute to developing an updated vision for the optimal design and deployment of finance to reduce forest loss and degradation - while respecting the rights and development needs of local people. RRI has partnered with Mongabay.com to present two diverging viewpoints on issues to be discussed at length at the dialogue, featuring Vicky Tauli-Corpuz (Executive Director, Tebtebba) and Scott Poynton (Executive Director, The Forest Trust).
Forest carbon projects rake in $178 million in 2010
(09/29/2011) Investors funneled $178 million into forest carbon projects intended to mitigate global climate change last year, according to a new report by Forest Trends' Ecosystem Marketplace. By trading a record 30.1 million tons of carbon dioxide equivalent (MtC02e), the market saw a 48 percent rise over 2009—including a rise in private investors over non-profits as well as greater support for the global program Reduced Emissions from Deforestation and forest Degradation (REDD)—shows that the burgeoning market may be beginning to make good on its promise to provide funds to save forests for their ecosystem services with an initial focus on carbon.
Panama canal drives forest conservation, offers insight on value of ecosystems
(09/26/2011) As demonstrated by growing enthusiasm for conserving forests and the rise of the Reducing Emissions from Deforestation and Degradation (REDD+) program, the public is increasingly aware of the role forests play in delivering ecosystems services — like clean air and water — that benefit mankind. Yet, science still lags conventional wisdom — researchers have yet to fully quantify much of what healthy forests provide. Bridging this gap is key to unlocking the full value of protecting and restoring tropical forests. The ambitious Agua Salud Project in Panama is attempting to do just that.
Conservationists renew push for 'rainforest bonds'
(09/19/2011) Conservationists are renewing a push for a special class of 'rainforest bonds' to fund efforts to conserve tropical forests.
Biodiversity and Social Carbon: Sustainable Development and the Carbon Market - Book Review
(09/18/2011) Our 21st century economy faces to twin challenges - biodiversity loss and climate change - and in Biodiversity and Social Carbon, authors Divaldo Rezende and Stefano Merlin, describe the Social Carbon methodology and its approach to protecting and enhancing biodiversity while mitigating climate change. Moreover, the authors also provide numerous case studies on how the Social Carbon methodology functions.
Germany backs out of Yasuni deal
(06/13/2011) Germany has backed out of a pledge to commit $50 million a year to Ecuador's Yasuni ITT Initiative, reports Science Insider. The move by Germany potentially upsets an innovative program hailed by environmentalists and scientists alike. This one-of-a-kind initiative would protect a 200,000 hectare bloc in Yasuni National Park from oil drilling in return for a trust fund of $3.6 billion, or about half the market value of the nearly billion barrels of oil lying underneath the area. The plan is meant to mitigate climate change, protect biodiversity, and safeguard the rights of indigenous people.
Environment versus economy: local communities find economic benefits from living next to conservation areas
(06/12/2011) While few would question that conserving a certain percentage of land or water is good for society overall, it has long been believed that protected areas economically impoverish, rather than enrich, communities living adjacent to them. Many communities worldwide have protested against the establishment of conservation areas near them, fearing that less access and increased regulations would imperil their livelihoods. However, a surprising study overturns the common wisdom: showing that, at least in Thailand and Costa Rica, protected areas actually boost local economies and decrease poverty.
Despite setbacks, voluntary carbon markets booming
(06/06/2011) The voluntary carbon market posted a 34 percent gain in 2010, trading a record 131 million tons of carbon dioxide equivalent (MtC02e). While the US accounted for the majority of trading activity, worth $424 million in total, market growth was strongest in developing countries.
Is Indonesia losing its most valuable assets?
(05/16/2011) Deep in the rainforests of Malaysian Borneo in the late 1980s, researchers made an incredible discovery: the bark of a species of peat swamp tree yielded an extract with potent anti-HIV activity. An anti-HIV drug made from the compound is now nearing clinical trials. It could be worth hundreds of millions of dollars a year and help improve the lives of millions of people. This story is significant for Indonesia because its forests house a similar species. In fact, Indonesia's forests probably contain many other potentially valuable species, although our understanding of these is poor. Given Indonesia's biological richness — Indonesia has the highest number of plant and animal species of any country on the planet — shouldn't policymakers and businesses be giving priority to protecting and understanding rainforests, peatlands, mountains, coral reefs, and mangrove ecosystems, rather than destroying them for commodities?
Tropical countries aim for global forest pact
(04/18/2011) Representatives from more than 30 countries are expected to hammer out a formal agreement for future discussions on forest and climate issues when they meet next month in the Republic of Congo, reports the Wildlife Conservation Society (WCS).
Greenpeace says McKinsey's REDD+ work could encourage deforestation
(04/07/2011) One of the world's top consultancies, McKinsey & Co., is providing advice to governments developing 'Reducing Emissions from Deforestation and Degradation' (REDD+) programs that could increase risks to tropical forests, claims a new report published by Greenpeace. The report, Bad Influence – how McKinsey-inspired plans lead to rainforest destruction, says that McKinsey’s REDD+ cost curve and baseline scenarios are being used to justify expansion of industrial capacity in Indonesia, Papua New Guinea, Democratic Republic of Congo, and Guyana.
What is the current status of REDD+?
(03/23/2011) The Reducing Emissions from Deforestation and Degradation (REDD) mechanism is supposed to be the great hope for saving the world's forests. Advocates say REDD — now known as REDD+ — could finally create financial incentives for keeping forests standing instead of chopping them down for timber, pulp and paper, cattle, palm oil, and rubber. At the same time, REDD could generate benefits for the rural poor, while safeguarding biodiversity and other ecosystem services. But the devil is in the details. Ensuring that REDD is properly designed, funded, and implemented means that progress has been slower than some supporters have hoped. A poorly designed REDD may be worse than no REDD at all. So where does that leave REDD now? Mongabay asked John-O Niles, the Director of the Tropical Forest Group, for his thoughts on the current status of REDD policy.
PUMA goes carbon neutral by protecting lions in Kenya
(03/23/2011) PUMA, the sporting goods brand, and its parent company PPR will offset their 2010 carbon dioxide emissions by purchasing carbon credits generated through conservation of wildlife habitat in Kenya.
Regulators Learning From Voluntary Carbon Markets
(03/14/2011) The global carbon markets began quietly in the late 1980s as part of a voluntary effort to save rainforests, but these small, voluntary efforts were quickly eclipsed – and often dismissed – when the Kyoto Protocol ushered in compliance markets a decade later. Now, however, it’s the compliance markets that are turning to the voluntary markets for guidance as regulators and voluntary market players rush to meet halfway.
Where is REDD heading? Forest carbon week in review
(03/08/2011) REDD may still be at a standstill in Indonesia, but there is positive news coming out of the United Nations REDD Program. UN-REDD released its five-year strategic plan, and Nigeria is finalizing its readiness proposal to submit to the UN-REDD policy. More news inside this week's Forest Carbon news.
Nigeria moving forward on REDD to protect last remaining forests
(02/19/2011) The tiny state of Cross River, Nigeria, has managed to preserve large swathes of endangered rainforest despite lucrative – and often intimidating – offers from loggers and other interests. It's also laid the groundwork for a state-wide program designed to earn international carbon credits by saving trees, thus securing its spot in an elite network of states that are moving forward as UN talks stall.
Can 'water footprinting' help cut the 500 liters of H2O needed to produce a carton of OJ?
(02/11/2011) Carbon trading promotes good behavior by creating a standardized currency representing a verifiable environmental benefit. Payments for watershed services do the same for cutbacks in water pollution, albeit on a smaller scale. Now, the Nature Conservancy and the Coca-Cola Company are experimenting with a new method of “water footprinting” that could do the same for total water use – a key component in the development of a market-based scheme that would promote responsible water usage.
Zambia building a carbon exchange
(02/11/2011) Carbon finance can help rural Africans establish more sustainable ways of doing business, and several efforts are underway to build carbon exchanges that can help project developers identify prices and manage risk. These efforts will only generate meaningful change, however, if the rural poor understand carbon markets and how to access them. The African Carbon Credit Exchange aims to build that understanding.
With REDD, could financial markets become species' extinction risk?
(01/06/2011) The emergence of a Reducing Emissions from Deforestation and Degradation (REDD) mechanism for protecting forests could introduce new risks for biodiversity by linking conservation finance to exotic financial derivatives, warn researchers writing in the journal Conservation Letters. Jacob Phelps, Edward L. Webb, and Lian P. Koh argue that REDD could effectively link the fate of some species to the short-term whims of the carbon market. Conservation projects funded primarily by REDD are most at risk of being undermined by declining in carbon prices or changing investor preference. The authors add that the short-term nature of REDD—which is seen as a stop gap measure of at most 30 years—may fail deliver benefits over the time-scale need to safeguard biodiversity.
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