CREDITS FOR PROTECTING FORESTS

This is an idea long-advocated by NewEnergyNews but an idea that must be handled carefully to prevent abuses. The UN Clean Development Mechanism (CDM) must be sure the deforestation credits are allotted for legitimate prevention undertakings and that the forests to be protected REMAIN protected. Great information at MongaBay.com

Support builds for carbon cash to save forests
Michael Szabo (w/Gerard Wynn), September 12, 2007 (Reuters)

WHO
Environmental protection advocates Global Canopy Programme (GCP), Andrew Mitchell, founder and director; World Bank; environmental protection advocates World Wildlife Fund (WWF), International Institute for Environment and Development (IIED), Friends of the Earth Brazil, Care International;

A serious problem... (click to enlarge)

WHAT
GCP called for the next Kyoto Protocol agreement to include the allowance of emissions offset credits for preventing deforestation of tropical and other precious forests in addition to present policies allowing credits for replanting forests.

WHEN
Participants in the Kyoto Protocols will meet in December to finalize Phase 2 agreements that run through 2012. GCP and the other environmental advocates want forest protection credit allowances to be included in the Phase 3 Protocols that would begin in 2013.

WHERE
The World Bank has announced pilot projects in voluntary credit allowances for deforestation prevention in Papua New Guinea, Costa Rica, Indonesia and elsewhere.

WHY
- Credits to prevent deforestation, properly regulated, offers a market-based mechanism by which developing countries with forest resources can serve industrial countries while both can profit in market trading.
- Preventing deforestation is crucial for preservational considerations but it is also a simple health proposition. The forests protect earth’s atmosphere in TWO ways: Keeping the forests maintains them as carbon sinks while destroying them releases the carbon there.
- WWF and IIED have also called for credit allowances to deforestation prevention, as has a preliminary UN climate change panel working on Phase 3 issues.
GCP includes Friends of the Earth Brazil and Care International.

...that could be a huge opportunity. (click to enlarge)

QUOTES
- Mitchell, GCP: "(We want) the protection of standing forests included in all national and international carbon markets…Halting deforestation is an opportunity to score a big win against climate change…"
- WWF, IIED: "The growing market for carbon offers great opportunities for linking greenhouse gas mitigation with conservation of forests and biodiversity, and the generation of local livelihoods…”