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News articles on carbon finance
Mongabay.com news articles on carbon finance in blog format. Updated regularly.
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(11/19/2009) Under the Kyoto Protocol the nation that produces carbon emission takes responsibility for them, but what about when the country is producing carbon-intensive goods for consumer demand beyond its borders? For example while China is now the world's highest carbon emitter, 50 percent of its growth over the last year was due to producing goods for wealthy countries like the EU and the United States which have, in a sense, outsourced their manufacturing emissions to China. A new study in Environmental Research Letters presents a possible model for making certain that both producer and consumer share responsibility for emissions in an area so far neglected by studies of this kind: deforestation and land-use change.
(11/17/2009) Reducing Emissions from Deforestation and Degradation [REDD] programs that include landowners will conserve more habitat and ensure greater ecosystem services function than programs that focus solely on protected areas, report researchers from the Woods Hole Research Center (WHRC), the Instituto de Pesquisa Ambiental da Amazônia (IPAM), and the Universidade Federal de Minas Gerais (UFMG).
(11/03/2009) Reducing Emissions from Deforestation and Degradation (REDD), a climate change mechanism proposed by the U.N., has been widely lauded for its potential to simultaneously deliver a variety of benefits at multiple scales. But serious questions remain, especially in regard to local communities. Will they benefit from REDD? While much lip-service is paid to community involvement in REDD projects, many developers approach local communities as an afterthought. Priorities lie in measuring the carbon sequestered in a forest area, lining up financing, and making marketing arrangements, rather than working out what local people — the ones who are often cutting down trees — actually need in order to keep forests standing. This sets the stage for conflict, which reduces the likelihood that a project will successfully reduce deforestation for the 15-30 year life of a forest carbon project. Brodie Ferguson, a Stanford University-trained anthropologist whose work has focused on forced displacement of rural communities in conflict regions in Colombia, understands this well. Ferguson is working to establish a REDD project in an unlikely place: Colombia's Chocó, a region of diverse coastal ecosystems with some of the highest levels of endemism in the world that until just a few years ago was the domain of anti-government guerillas and right-wing death squads.
(09/22/2009) Prince Charles of Great Britain has emerged as one of the world’s highest-profile promoters of a scheme that could finally put an end to destruction of tropical rainforests. The Prince’s Rainforest Project, launched in 2007, is promoting awareness of the role deforestation plays in climate change—it accounts for nearly a fifth of greenhouse gas emissions. The project also publicizes the multitude of benefits tropical forests provide, including maintenance of rainfall, biodiversity, and sustainable livelihoods for millions of people. But the initiative goes beyond merely raising awareness. Prince Charles is using his considerable influence to bring political and business leaders together to devise and support a plan to provide emergency funding to save rainforests. Tony Juniper, one of Britain’s best-known environmentalists and Special Adviser to the project, spoke about Prince Charles' efforts in an interview with mongabay.com.
(09/08/2009) While you're browsing the mall for running shoes, the Amazon rainforest is probably the farthest thing from your mind. Perhaps it shouldn't be. The globalization of commodity supply chains has created links between consumer products and distant ecosystems like the Amazon. Shoes sold in downtown Manhattan may have been assembled in Vietnam using leather supplied from a Brazilian processor that subcontracted to a rancher in the Amazon. But while demand for these products is currently driving environmental degradation, this connection may also hold the key to slowing the destruction of Earth's largest rainforest.
(09/03/2009) The promotional efforts ahead of the upcoming release of the film Crude have helped raise awareness of the plight of thousands of Ecuadorians who have suffered from environmental damages wrought by oil companies. But while Crude focuses on the relatively recent history of oil development in the Ecuadorean Amazon (specifically the fallout from Texaco's operations during 1968-1992), conflict between oil companies and indigenous forest dwellers dates back to the 1940s.
(09/02/2009) Deforestation is the Brazilian Amazon is likely to fall between 8,500 square kilometers (3,088 square miles) and 9,000 sq km (3,474 sq mi) for the 12 months ended July 31, 2009, a reduction of 29-37 percent from last year, reports Brazil's Environment Minister Carlos Minc. If the estimate is confirmed by high resolution satellite data to be published later this year, the rate of forest loss for 2008-2009 would be the lowest since annual record-keeping began in the 1980s.
(09/02/2009) Taking a cue from its much larger neighbor to the north, Vietnam has outsourced deforestation to neighboring countries, according to a new study that quantified the amount of displacement resulting from restrictions on domestic logging. Like China, Vietnam has experienced a resurgence in forest cover over the past twenty years, largely as a result a forestry policies that restricted timber harvesting and encouraged the development of processing industries that turned raw log imports into finished products for export. These measures contributed to a 55 percent of Vietnam's forests between 1992 and 2005, while bolstering the country's stunning economic growth. But the environmental benefit of the increase in Vietnam's forest cover is deceptive: it came at the expense of forests in Laos, Cambodia, and Indonesia. Authors Patrick Meyfroidt and Eric F. Lambin of the Universite Catholique de Louvain in Belgium calculate that 39 percent of Vietnam's forest regrowth between 1987 and 2006 was effectively logged in other countries. Half of the wood imports into Vietnam were illegal.
(08/20/2009) A baby orangutan ambles across the grass at the Borneo Orangutan Survival Foundation’s Nyaru Menteng rehabilitation center in Central Kalimantan, in the heart of Indonesian Borneo. The ape pauses, picks up a stick and makes his way over to a plastic log, lined with small holes. Breaking the stick in two, he pokes one end into a hole in an effort to extract honey that has been deposited by a conservation worker. His expression shows the tool’s use has been fruitful. But he is not alone. To his right another orangutan has turned half a coconut shell into a helmet, two others wrestle on the lawn, and another youngster scales a papaya tree. There are dozens of orangutans, all of which are about the same age. Just outside the compound, dozens of younger orangutans are getting climbing lessons from the Borneo Orangutan Survival Foundation (BOS) staff, while still younger orangutans are being fed milk from bottles in a nearby nursery. Still more orangutans—teenagers and adults—can be found on “Orangutan Island” beyond the center’s main grounds. Meanwhile several recently wild orangutans sit in cages. This is a waiting game. BOS hopes to eventually release all of these orangutans back into their natural habitat—the majestic rainforests and swampy peatlands of Central Kalimantan, on the island of Borneo. But for many, this is a fate that may never be realized.
(08/03/2009) Peru's environment minister now says the government will pay indigenous communities 10 sols ($3.30) for every hectare of rainforest they help to preserve, reports the Latin American Herald. Previously Antonio Brack said that communities would see about half that amount. The $3.30-per-hectare figure is low by international standards. Under a proposed mechanism that compensates countries for reducing deforestation (REDD), forest land could be worth $800 or more per hectare for its carbon (225 tons of carbon/ha), depending on its level of threat. Forests in areas of high deforestation would be compensated at a higher rate than inaccessible forests at low-risk of development. But Brack left open the possibility that communities could receive higher payment if parties agree to include REDD compensation in a future climate framework.
(07/22/2009) Until now saving rainforests seemed like an impossible mission. But the world is now warming to the idea that a proposed solution to help address climate change could offer a new way to unlock the value of forest without cutting it down.Deep in the Brazilian Amazon, members of the Surui tribe are developing a scheme that will reward them for protecting their rainforest home from encroachment by ranchers and illegal loggers. The project, initiated by the Surui themselves, will bring jobs as park guards and deliver health clinics, computers, and schools that will help youths retain traditional knowledge and cultural ties to the forest. Surprisingly, the states of California, Wisconsin and Illinois may finance the endeavor as part of their climate change mitigation programs.
(07/13/2009) Indonesia has released revenue sharing rules for forest carbon projects, reports Reuters. According to a document released by the forestry ministry, the profit-sharing depends on the type of forest ownership or permit, ranging from 10 to 50 percent for the government, 20 to 70 percent for local communities, and 20 to 60 percent for developers. Projects in areas classified as "protected forest" would see 50 percent go to the government, 20 percent to local communities, and 30 percent to developers, while for projects in indigenous forest the breakdown would be 10% to the government, 70 percent to the community, and 20 percent to the developer.
(06/29/2009) Every year, tens of millions of acres of tropical forests are destroyed. This is the most destabilizing human land-use phenomenon on Earth. Tropical forests store more aboveground carbon than any other biome. They harbor more species than all other ecosystems combined. Tropical forests modulate global water, air, and nutrient cycles. They influence planetary energy flows and global weather patterns. Tropical forests provide livelihoods for many of the world’s poorest and marginalized people. Drugs for cancer, malaria, glaucoma, and leukemia are derived from rainforest compounds. Despite all these immense values, tropical forests are vanishing faster than any other natural system. No other threat to human welfare has been so clearly documented and simultaneously left unchecked. Since the 1992 Rio Earth Summit (when more than 100 heads of State gathered to pledge a green future) 500 million acres of tropical forests have been cut or burned. For decades, tropical deforestation has been the No. 1 cause of species extinctions and the No. 2 cause of human greenhouse gas emissions, after the burning of fossil fuels. For decades, a few conservation heroes tried their best to plug holes in the dikes, but by and large the most diverse forests on Earth were in serious decline.
(06/29/2009) A lot has been said about how to develop a successful forestry carbon project. Today, I am addressing how both for-profit and not-for-profit businesses can develop successful carbon forestry projects while commenting on some of these opportunities. I will also discuss forestry carbon as an alternative asset class for institutions and individuals. I have been working in this sector since 2006 and so let me share some thoughts and observations from the field.
(06/18/2009) Leaders in business, government, advocacy, conservation, global development, science and national security have formed a commission to "provide bipartisan recommendations to Congress and the President about how to reduce tropical deforestation through U.S. climate change policies," according to a statement released by the newly established group, named the Commission on Climate and Tropical Forests.
(06/18/2009) An 830,000-hectare tract of rainforest in Cameroon has been granted a 30-day reprieve from logging following a 4-week exploratory expedition that turned up large populations of lowland gorillas, forest elephants, mandrills, and chimpanzees, according to expedition leader Mike Korchinsky, founder of the conservation group Wildlife Works. The Cameroonian government has given Wildlife Works, which pioneered the first forest-based carbon project in Kenya, 30 days to come up with a competitive proposal to logging. The group is now scrambling to secure necessary funding to finance the early stages of the project.
(06/11/2009) Deforestation generates short-term benefits but fails to increase affluence and quality of life in the long-run, reports a new study based an analysis of forest clearing in 286 municipalities across the Brazilian Amazon. The research, published in Friday's issue of the journal Science, casts doubt on the argument that deforestation is a critical step towards development and suggests that mechanisms to compensate communities for keeping forests standing may be a better approach to improving human welfare, while simultaneously sustaining biodiversity and ecosystem services, in rainforest areas.
(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.
(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.
(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).
(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.
(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.
(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.
(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.
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