News articles on carbon finance
Mongabay.com news articles on carbon finance in blog format. Updated regularly.
Climate pact must halt deforestation and industrial logging of old-growth forests, exclude carbon credits for forest conservation, say activists
(06/09/2009) A global framework on climate change must immediately halt deforestation and industrial logging of the world's old-growth forests, while protecting the rights of forest communities and indigenous groups, said a broad coalition of activist groups in a consensus statement issued today at U.N. climate talks in Bonn Germany. The statement said the successor treaty to the Kyoto Protocol should not include mechanisms that allow industrialized countries to "offset" their emissions by purchasing carbon credits from reducing deforestation in developing countries, a position that puts the coalition at odds with larger environmental groups who say a market-based approach with tradable credits is the only way to generate enough money fund forest protection on a global scale.
REDD can compete financially with palm oil in Indonesia peatlands while protecting endangered species
(06/04/2009) A new paper by Oscar Venter, a PhD student at the University of Queensland, and colleagues finds that forest conservation via REDD — a proposed mechanism for compensating developing countries for Reducing Emissions from Deforestation and Degradation — could be economically competitive with oil palm production, a dominant driver of deforestation in Indonesia. The study, based on overlaying maps of proposed oil palm development with maps showing carbon-density and wildlife distribution in Kalimantan (Indonesian Borneo), estimates that REDD is financially competitive, and potentially able to fund forest conservation, with oil palm at carbon prices of $10-$33 per ton of carbon dioxide equivalent (tCO2e). In areas with low agricultural suitability and high forest carbon, notably peatlands, Venter and colleagues find that a carbon price of $2 per tCO2e would be sufficient to beat out returns from oil palm.
Peatlands conversion for oil palm a 'monumental mistake' for Indonesia's long-term prosperity, sustainability
(06/04/2009) Indonesia's decision earlier this year to allow conversion of up to 2 million hectares of peatlands for oil palm plantations is "a monumental mistake" for the country’s long-term economic prosperity and sustainability, argues an editorial published in the June issue of Frontiers in Ecology and the Environment.
Reducing emissions from deforestation in developing countries
(06/02/2009) Global forest covers around 30 per cent of the Earth's land surface (nearly 4 billion hectares). Forests provide valuable ecosystem services and goods, serve as a habitat for a wide range of flora and fauna and hold a significant standing stock of global carbon. The total carbon content of forests has been estimated at 638 Gt for 2005, which is more than the amount of carbon in the entire atmosphere. Deforestation, mainly conversion of forests for agriculture activities, has been estimated at an alarming rate of 13 million hectares per year (in the period 1990-2005).
Brazil's plan to save the Amazon rainforest
(06/02/2009) Accounting for roughly half of tropical deforestation between 2000 and 2005, Brazil is the most important supply-side player when it comes to developing a climate framework that includes reducing emissions from deforestation and forest degradation (REDD). But Brazil's position on REDD contrasts with proposals put forth by other tropical forest countries, including the Coalition for Rainforest Nations, a negotiating block of 15 countries. Instead of advocating a market-based approach to REDD, where credits generated from forest conservation would be traded between countries, Brazil is calling for a giant fund financed with donations from industrialized nations. Contributors would not be eligible for carbon credits that could be used to meet emission reduction obligations under a binding climate treaty.
Forest Recovery Programs in Madagascar
(06/01/2009) Despite being one of the last habitable land masses on earth to be settled by man, Madagascar has lost more of its forests than most countries; less than 10% of its original forest cover now remains, and much of that is degraded. Political turmoil that erupted earlier this year continues to rumble on and the ensuing lawlessness has created the opportunity for illegal logging syndicates to plunder national parks, most notably Marojejy and Masoala, for valuable hardwoods and wildlife.
Excluding forest carbon from climate policy will spur massive deforestation
(05/28/2009) Failure to develop policies that account for emissions from land use change will lead to widespread deforestation and higher costs for addressing climate change, warn researchers writing in the journal Science. Using a computer model that incorporates economics, energy, agriculture, land-use changes, emissions and concentrations of greenhouse gases, a team of researchers from the Department of Energy's Pacific Northwest National Laboratory (PNNL) and the University of Maryland found that efforts to limit atmospheric carbon dioxide levels while ignoring emissions from terrestrial sources would lead to nearly a complete loss of unmanaged forests by 2100, resulting largely from increased expansion of bioenergy crops. Meanwhile placing a value ("tax") on terrestrial carbon emissions equivalent to that on industrial and fossil fuel emissions would lead to an increase in forest cover.
Indigenous people, forest communities in Africa control less than 2% of forest land
(05/28/2009) Less than 2 percent of Africa’s tropical forests are under community control, hindering efforts to slow deforestation and alleviate rural poverty, reports a new assessment from the International Tropical Timber Organization (ITTO) and the Rights and Resources Initiative (RRI), a global coalition of non-governmental and community organizations.
Voluntary carbon markets double in 2008
(05/20/2009) Voluntary carbon markets greatly expanded in both transaction volume and value in 2008, providing critical funds for projects aiming to reduce greenhouse gas emissions, according to a new report from Ecosystem Marketplace and New Carbon Finance. Fortifying the Foundation: State of the Voluntary Carbon Markets 2009 — a survey of over 190 voluntary carbon credit retailers, brokers, accounting registries, and exchanges — found that voluntary carbon markets transacted 123 million metric tons of carbon credits valued at $705 million in 2008, up from 65 million tons of credits valued at $331 million in 2007.
Peru gets $120m to protect 212,000 sq mi of Amazon rainforest
(05/13/2009) The Japanese government will loan Peru $120 million to protect 55 million hectares (212,000 square miles) of Amazon rainforest over the next ten years, reports El Comercio.
Indigenous people serve as guardians of forest carbon, must be involved in climate solutions
(04/22/2009) Efforts to create an international climate framework — including a carbon financing mechanism for forest conservation — must involve forest people, said indigenous leaders attending the Indigenous Peoples Global Summit on Climate Change meeting this week in Anchorage, Alaska.
Avoided deforestation projects highly desirable for carbon offsets finds survey
(04/21/2009) 91 percent of companies rated avoided deforestation as the most desirable forestry projects for carbon offsets, reports a survey by EcoSecurities, Conservation International, The Climate, Community & Biodiversity Alliance and ClimateBiz.
New chameleon species named after carbon conservation pioneer
(04/21/2009) A newly discovered species of chameleon from Tanzania has been named after Dorjee Sun, CEO of Carbon Conservation, an outfit which seeks to make rainforest conservation profitable through a carbon market mechanism known as REDD for Reducing Emissions from Deforestation and Degradation.
Kenya signs its first REDD deal to conserve forests
(04/16/2009) Kenya has signed its first carbon deal to reduce emissions from deforestation and degradation (REDD).
Rainforest conservation gains in U.S. and U.N. climate proposals
(04/14/2009) A proposed mechanism for reducing emissions from deforestation and degradation (REDD) figures prominently in the draft climate bill released last month by Congressmen Henry Waxman and Ed Markey as well as a U.N. document posted last week following a climate meeting in Bonn, Germany. Deforestation is the source of roughly 20 percent of greenhouse gas emissions from human activities.
Greenpeace opposes forest conservation initiative in Indonesia
(04/02/2009) Greenpeace criticized Indonesia's plan to reduce deforestation through a market-based emissions mechanism known as REDD (Reducing Emissions from Deforestation and Degradation), reports AFP.
World leaders meet to discuss future of rainforests
(04/02/2009) World leaders met Wednesday to discuss the role rainforests can play in reducing greenhouse gas emissions.
Carbon credits from forest conservation would crash carbon market, says Greenpeace
(03/30/2009) Inclusion of forest conservation in a market-based mechanism for reducing greenhouse gas emissions would crash carbon prices by swamping the market with cheap credits, claims a new report from Greenpeace. The environmental group said low carbon prices would "derail global efforts to tackle global warming" and cause "developing countries losing out on billions of dollars a year for investment in clean energy technologies".
Can carbon credits from REDD compete with palm oil?
(03/30/2009) Reducing emissions from deforestation and degradation (REDD) is increasingly seen as a compelling way to conserve tropical forests while simultaneously helping mitigate climate change, preserving biodiversity, and providing sustainable livelihoods for rural people. But to become a reality REDD still faces a number of challenges, not least of which is economic competition from other forms of land use. In Indonesia and Malaysia, the biggest competitor is likely oil palm, which is presently one of the most profitable forms of land use. Oil palm is also spreading to other tropical forest areas including the Brazilian Amazon.
Norway emerges as champion of rainforest conservation
(03/19/2009) While citizens in western countries have long paid lip service to saving rainforests, Norway has quietly emerged as the largest and most important international force in tropical forest conservation. The small Scandinavian country has committed 3 billion krone ($440 million) a year to the effort, a figure vastly greater than the $100M pledged — but never fully contributed — by the United States under the Tropical Forest Conservation Act (TFCA). Norway now hopes it can help push to include forest conservation in the successor to the Kyoto Protocol by providing funding and fostering cooperation among international actors like the UN and World Bank, as well as developing countries, to fund the creation of an international architecture which makes it possible to incorporate deforestation and degradation into a post-2012 climate regime.
Clean energy investment moving too slowly to avoid irreversible climate change
(03/04/2009) Stalled clean energy investment due to the current recession makes severe climate change more likely, according to a new report by analysts with New Energy Finance (NEF).
Indonesia applies for REDD partnership to protect forests
(03/04/2009) Indonesia has applied to join the World Bank's Forest Carbon Partnership Facility, becoming the largest developing country to apply to a program that seeks to reduce greenhouse gas emissions by saving tropical forests, reports Reuters.
Economic crisis hits conservation but may offer opportunities, says TNC president
(03/03/2009) In 2008 The Nature Conservancy (TNC) surprised the conservation world when it selected Mark Tercek, an investment banker from Goldman Sachs, as its new president and CEO. But for people who have worked with Tercek, the move made strategic sense – Tercek was a leading figure in the Goldman's effort to improve its environmental record. In 2005 Tercek was appointed to head up the firm's Environmental Strategy Group, which develops and implements its environmental policy, and its Center for Environmental Markets, an initiative that examines market-based solutions to environmental challenges. In that role Tercek worked with pioneers in ecosystem services science, including Gretchen Daily of Stanford University; John Holdren, the former director of the Woods Hole Research Center and currently President Obama's chief scientific adviser; and Peter Kareiva, chief scientist at TNC.
Cameroon may liquidate rainforest reserve if conservationists don't step forward
(03/02/2009) The opportunity to conserve a one million hectare tract rainforest in Cameroon is fast dwindling due financial pressures in the Central African country, reports a bulletin from the Ngoyla Mintom Foundation. In 2002 the government of Cameroon suspended logging rights and extended an offer to protect Ngoyla Mintom — a forest reserve that houses 4,000 lowland gorillas, 1,500 endangered chimpanzees, 3,000 forest elephants and an important population of vulnerable Mandrills — provided someone step forward to pay for it. To date there have been no takers. Now facing a mounting economic crisis, the government of Cameroon says it will soon concession Ngoyla Mintom for logging.
24% of Papua New Guinea's rainforest destroyed or degraded by logging in 30 years
(02/23/2009) Nearly one quarter of Papua New Guinea's rainforests were damaged or destroyed between 1972 and 2002, report researchers writing in the journal Biotopica. The results, which were published in a report last June, show that Papua New Guinea is losing forests at a much faster rate than previously believed. Over the 30-year study period 15 percent of Papua New Guinea's tropical forests were cleared and 8.8 percent were degraded through logging.
Pricing emissions from farming, logging could shift land use towards conservation
(02/15/2009) Putting a price tag on carbon dioxide emissions resulting from various land use practices could dramatically change the way that land is used, including reducing deforestation and limiting agricultural expansion on carbon-rich lands, said a researcher presenting at the annual meeting of the American Association for the Advancement of Science.
Payments for eco services could save the Amazon
(02/12/2009) Paying for the ecological services provided by the Amazon rainforest could be the key to saving it, reports a new analysis from WWF. The study, Keeping the Amazon forests standing: a matter of values, tallied the economic value of various ecosystem services afforded by Earth's largest rainforest. It found that standing forest is worth, at minimum, $426 per hectare per year.
Kerry, Lugar: U.S. has opportunity to lead on climate, forest conservation
(02/10/2009) The United States can reassert itself as a global leader on the environment by supporting an initiative to fight climate change by protecting forests, said leaders from a broad range of political, environmental, development and business communities at a meeting on Capitol Hill Monday. Joined by senators John Kerry (D-MA) and Richard Lugar, the "Avoided Deforestation Partners" coalition called for Congress to include "strong tropical forest protection measures in U.S. climate change legislation" ahead of this December's climate conference in Copenhagen, Denmark.
New model uses carbon credits, sustainable palm oil to save Indonesia's rainforests
(02/05/2009) The World Resources Institute (WRI) has launched an innovative avoided deforestation model that aims to deter conversion of Indonesian rainforest for oil palm plantations. The project, dubbed "POTICO" (Palm Oil, TImber, Carbon Offsets), integrates sustainable palm oil, FSC-certified timber, and carbon offsets in order to "divert new oil palm plantations onto degraded lands and bring the forests that were slated for conversion into certified sustainable forestry".
Norway to pay Guyana to save its rainforests
(02/05/2009) Norway will provide financial support for Guyana's ambitious plan to conserve its rainforests, reports the Guyana Chronicle. Meeting in Oslo, Norway on Tuesday, Guyana President Bharrat Jagdeo and Norwegian Prime Minister Jens Stoltenberg signed a Memorandum of Understanding agreeing to establish a partnership to reduce greenhouse gas emissions from deforestation and forest degradation (REDD). The leaders will push for the incorporation of a REDD mechanism that includes low deforestation countries like Guyana in a post-2012 climate change agreement.
Gore pushes for avoided deforestation to save rainforests during testimony
(01/29/2009) In testimony before the Senate Foreign Relations Committee on Wednesday, former Vice President Al Gore urged lawmakers to move swiftly on a cap-and-trade climate bill as well as the economic stimulus package. Among many recommendations, Gore repeatedly emphasized the importance of forest conservation in fighting climate change, mentioning "deforestation" more than a dozen times.
Beef drives 80% of Amazon deforestation
(01/29/2009) Nearly 80 percent of land deforested in the Amazon from 1996-2006 is now used for cattle pasture, according to new maps released today in a report by Greenpeace at the World Social Forum in Belem, Brazil. The report, Amazon Cattle Footprint: Mato Grosso: State of Destruction, confirms that cattle ranching is the primary driver of deforestation in Earth's largest rainforest: the Brazilian Amazon.
Guidelines on how to establish an avoided deforestation project
(01/22/2009) Deforestation presently accounts for nearly 20 percent of anthropogenic greenhouse gas emissions — a share larger than that from the global transportation sector. Given this contribution, reducing deforestation is widely seen as a key component in plans to slow climate change and a number of proposals to include forestry in a post-Kyoto climate agreement are presently on the table. Anticipating the emergence of a market for forest carbon as a result of this framework, 'avoided deforestation' projects are already sprouting up in tropical countries around the world. Supporters say these initiatives offer the potential to protect forests and biodiversity while simultaneously delivering benefits to rural communities that have so far been lost out while their natural resources have been plundered by developers. While avoided deforestation seems to offers great promise, developing a project that meets still emerging standards is a complex and costly endeavor. A new book, published in five languages, seeks to untangle the forest carbon market and thereby facilitate new avoided deforestation projects.
Carbon market collapse claims another casualty
(01/22/2009) A recent collapse in carbon prices has triggered CantorCO2e — a carbon broker — to scale back on new clean energy projects, reports Reuters.
How to establish a REDD project
(01/22/2009) New guide offers insight on establishing projects for the emerging avoided deforestation or REDD market.
How to save the Amazon rainforest
(01/04/2009) Environmentalists have long voiced concern over the vanishing Amazon rainforest, but they haven't been particularly effective at slowing forest loss. In fact, despite the hundreds of millions of dollars in donor funds that have flowed into the region since 2000 and the establishment of more than 100 million hectares of protected areas since 2002, average annual deforestation rates have increased since the 1990s, peaking at 73,785 square kilometers (28,488 square miles) of forest loss between 2002 and 2004. With land prices fast appreciating, cattle ranching and industrial soy farms expanding, and billions of dollars' worth of new infrastructure projects in the works, development pressure on the Amazon is expected to accelerate. Given these trends, it is apparent that conservation efforts alone will not determine the fate of the Amazon or other rainforests. Some argue that market measures, which value forests for the ecosystem services they provide as well as reward developers for environmental performance, will be the key to saving the Amazon from large-scale destruction. In the end it may be the very markets currently driving deforestation that save forests.
Rainforest conservation more important than developing electric cars
(01/01/2009) For all the fuss that is made about Tesla and the coming generation of electric cars, policy-makers should not overlook the importance of tropical forest conservation.
Rainforests continue to fall but hope may rest in a market solution
(12/11/2008) Environmentalists attempting to preserve the vanishing Amazon rain forest now confront a stark paradox: Never before have they succeeded in protecting so much of the world’s largest tropical forest, yet never before has so much of it simultaneously been destroyed. The key question today is whether new models of conservation — including an increasingly popular, market-based program known as REDD — will be able to reverse the steady loss of tropical forests, not only in the Amazon, but also in Indonesia, Borneo, and Africa’s Congo basin, where virgin woodlands continue to be razed at an unprecedented rate.
Deal on forests falls short
(12/11/2008) A deal reached Wednesday in Poznan to include forests in future climate treaties is a positive step but falls short of the progress needed to get the REDD (reducing emissions from deforestation and degradation) mechanism on track for incorporation into the framework that will succeed the Kyoto Protocol, say environmentalists speaking from the talks.
Indigenous people win voice in climate negotiations
(12/10/2008) Negotiators at U.N. climate conference have struck a deal to give forest-dependent people a voice in determining the role forest conservation will play future agreements to reduce greenhouse gas emissions, reports the Associated Press (AP). The agreement clears a key obstacle that had been blocking progress on reducing emissions from deforestation and degradation (REDD), a mechanism that would compensate tropical countries for protecting their forest cover.
Africa calls for "full-range" of bio-carbon as climate solution
(12/10/2008) A coalition of 26 African countries is calling for the inclusion of carbon credits generated through afforestation, reforestation, agroforestry, reduced soil tillage, and sustainable agricultural practices in future climate agreements.
New standards ensure forest carbon projects protect indigenous people, biodiversity
(12/08/2008) The Climate, Community & Biodiversity Alliance (CCBA) has released its second edition of its CCB Standard for certifying land-based carbon offset projects.
Peru seeks $200 million to save its rainforests
(12/08/2008) Peru is seeking $200 million in international contributions over the next ten years to cut deforestation to zero, reports BBC News.
In Poznan, France pushes initiative to save rainforests
(12/08/2008) As talks for incorporating forest conservation into an international climate treaty stall in Poznan, Poland due to technical debates, France has proposed an aggressive effort to address deforestation and forest degradation through the establishment of a Global Forest Carbon Mechanism (GFCM) and potential inclusion of forestry projects in the E.U.'s emissions trading scheme (ETS) beginning in 2013.
REDD faces challenges but can succeed, says report
(12/05/2008) The Center for International Forestry Research (CIFOR), a forest policy think tank, today released its assessment on the proposed REDD (reducing emissions from deforestation and degradation) mechanism for slowing climate change.
Little progress on avoided deforestation at climate meeting in Poland
(12/05/2008) Climate talks in Poland are failing to make progress on a proposed mechanism to reduce greenhouse gas emissions from deforestation, reports a forest policy group from the negotiations.
WWF criticizes Brazil's plan to cut Amazon deforestation
(12/04/2008) WWF criticized Brazil's plan to reduce Amazon deforestation to 5,740 square kilometers per year as being "short on ambition and detail". In a statement issued Wednesday, WWF said that Brazil's proposed fund for conserving the Amazon would still result in the annual loss of an area forest the size of Rhode Island.
Rainforest canopy-penetrating technology gets boost for forest carbon monitoring
(12/04/2008) A tool for monitoring tropical deforestation has gotten a boost from the one of the world's largest supporters of Amazon conservation. The Gordon and Betty Moore Foundation has awarded the Carnegie Institution's Department of Global Ecology with a $1.6-million grant to expand and improve its tropical forest monitoring tool known as the Carnegie Landsat Analysis System Lite (CLASLite).
REDD may harm forest people, alleges report
(12/02/2008) A new report finds that the World Bank is not doing enough to protect indigenous rights under its mechanism to reduce emissions from deforestation and forest degradation (REDD).
Brazil to cut Amazon deforestation by 70% to fight global warming
(12/01/2008) Brazil will aim to cut its deforestation rate by 70 percent by 2018 under its plan to reduce emissions from forest clearing, Environment Minister Carlos Minc.
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