Is cap-and-trade a rose which by any other name would smell as sweet? Australia will be finding out shortly as a carbon tax is in the process of being unveiled for the country’s top 500 emitters. Australia’s new regulations, California’s cap-and-trade delay and Indonesia’s moratorium on clearing primary forests are just some of the stories from the incredibly busy world of forest carbon.
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14 July 2011 | Is cap-and-trade a rose which by any other name would smell as sweet? Australia will be finding out shortly. A carbon tax is in the process of being unveiled down under against the country’s top 500 emitters, with an initial fixed price of A$23 per tonne that by 2015 ceases being a tax when the price will be allowed to float and voila, there’s your emissions trading scheme.
In California, state regulators released a new plan this week starting to spell out how the recently announced delay of compliance obligations until 2013 will be carried out. The state plans to breathe life into the market machinery in 2012, but many of the details still remain to be penciled in.
Indonesia’s moratorium on clearing primary forests in concession areas drew more fire last week as the area of forests protected by the regulation appears to be shrinking even as the forest boundaries already mapped for protection continue to show indications of moratorium violations from inspection of satellite data.
On the financing front, news of major new funding commitments from the International Finance Corporation and World Bank’s Climate Investment Fund come at the same time as a brief assessment of fund-based financing for REDD shows the model is slower to deliver cash to the ground than many may have thought. Many countries are not deterred, however, as the UN-REDD Programme announces six new observers have joined the multilateral forum.
And finally, as UN-REDD and FCPF publish joint papers outlining, among other things, lessons from various safeguard approaches, two indigenous coalitions in Peru call for a halt to the signing of any REDD+ contracts in their region until more of the details about the sub-national projects and broader national and international REDD+ programs are settled and shown to respect indigenous and community rights.
It’s been an incredibly busy couple weeks in all aspects of the forest carbon world, so read on below for all these and more stories in the latest edition of Ecosystem Marketplace’s Forest Carbon News Brief.
—The Ecosystem Marketplace Team
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