Emissions reductions created through forest protection never will become a tradable commodity, and private investors are beginning to realize that, a consultant for the Third World Network said.
Forest carbon can’t be measured as accurately as CO2 discharges from industrial projects, Kate Dooley, who advises the environmental group on climate change issues, said today in Bonn. Under the United Nations’ Reduced Emissions from Deforestation and Forest Degradation program, or REDD, developing nations protect and manage their forests in exchange for funding from developed states to support their efforts.
“If you think that REDD can be established as a carbon market, if you think that forest carbon can be measured to the level of accuracy to satisfy investors to invest in it as a carbon market, I think that there’s a lot of disappointment in that,” she said in an interview at the UN talks in the German city. “Governments will drive this and the private-sector interest in forest carbon is really falling away.”
Greenhouse-gas discharges caused by deforestation represent about 20 percent of the world’s total emissions, according to the UN. Nations have been discussing since 2008 how to incorporate REDD into global action on climate change.
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