This Week In Forest Carbon: Full Code REDD Launch In Rio
One of the exciting movements coming out of the Rio+20 Summit this week is the Code REDD campaign, which hopes to reduce emissions through pledges of offsets by corporate buyers as well as to raise awareness of REDD. Also, TNC recently registered three forest carbon projects under the VCS, and the Executive Summary of the Voluntary Carbon Markets report has been published in Spanish.
This article originally appeared in the Forest Carbon newsletter. Click here to view the original.
June 20 2012 |
The Spanish version of the Executive Summary for our 2012 State of the Voluntary Carbon Markets Report
is now out! It can be downloaded here
, along with the full report in English here
With Rio+20 underway on its home turf, Brazil is waiting for clarity from a number of fronts, given the delay in the launch of its carbon market, ambiguity over its modest new emissions-cutting goals, and suspense over the Congressional vote on President Rousseff's proposed modifications and vetos to the Forest Code, scheduled for July. Against this backdrop, a recent survey by Brazil's Ministry of Environment says that only 22% of Brazilians know what Rio+20 is.
Meanwhile, leading companies like Allianz, PPR, Eneco, Entega, and Nedbank have pledged to support high-quality projects under the Code REDD campaign, which is being spearheaded by project developer Wildlife Works. Soft-launched in November and being kicked off today in Rio, the campaign aims to raise awareness of REDD and encourage potential corporate buyers to pledge to offset their footprints using REDD credits. EM will be covering the campaign launch here.
Moving onto project development, three new forest carbon projects have recently registered under VCS - two in Louisiana river basins spearheaded by The Nature Conservancy, and one in the Brazilian Amazon developed by 33 Forest Capital and Cikel. The Coastal First Nations are embarking on a massive new project in BC's Great Bear Rainforest - the first to follow the BC Forest Carbon Offset Protocol, which the province is seeking acceptance for under VCS.
Forests continue to gain a foothold in the carbon offset toolkit, as methodologies and reporting systems become increasingly comprehensive - whether through expansion, as in the case of the Gold Standard rolling out a new land use and forestry program in response to stakeholder lobbying - or through consolidation, as seen with The Forest Footprint Disclosure Project uniting with the Carbon Disclosure Project to create the largest linkage of data on natural capital to date.
Still, forest carbon is experiencing hiccups in areas suffering from corruption risk or conflicting policies. Indonesia continues to be shrouded in an uncertain investment climate, with a recent hold-up in Aceh following a change in governor. The Green Belt Movement's reforestation project in the Aberdares and Mount Kenya forests has also stalled in Kenya, due to continued farming and grazing under the Shamba system.
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