This week, we again took a look at the status of REDD+ in Indonesia in the light of recent troubles for the country’s leading REDD project. However, in other parts of the world, there are abundant signs of market progress and developer confidence elsewhere. In addition, top private sector investors are calling on negotiators in Durban to clarify their role in REDD projects.
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16 September 2011 | This week, we followed up with further analysis on the outlook for Indonesian REDD+ in the light of recent troubles for the country’s leading REDD project (Rimba Raya Debacle Casts Pall Over Indonesian REDD). While some industry players have clearly questioned Indonesia’s true commitment to REDD+ in the wake of Rimba Raya exposés, many of those involved actually predict long term successes, with mounting pressure encouraging greater cross government commitment in Indonesia. The day after publishing our article, we received an Indonesian press release announcing the expansion of the federal REDD task force to include a number of additional key officials from across government. Everyone involved no doubt hopes this signals a new, and more coordinated, commitment to REDD+ from the Indonesian government.
Despite the project development jitters some may have for Indonesia, there are abundant signs of market progress and developer confidence elsewhere. Colombia is developing a system of Verified Emissions Reductions (VERs) and looking to establish a voluntary carbon trading platform. Over in Malaysia, project developers Face the Future have successfully been issued credits from the first tropical Improved Forest Management project under the VCS. And in Tanzania, REDD pilot projects are being developed with seven local villages.
Calls for clarity and consistency in forest carbon policy continue – this time with top private sector investors calling on negotiators in Durban to clarify their role in REDD projects. This is likely to be a challenging ask, but with forecasters predicting the market to generate $10B in investments by 2020, the financial sector’s comments will be difficult for those at Durban to ignore.
As always, read on for all the headlines and more in this, the latest edition of Ecosystem Marketplace’s Forest Carbon News Brief. What’s more, stay tuned for an invitation to attend one of three launch events we are planning for the release of our State of the Forest Carbon Markets 2011 report. We’ll be swinging through Washington DC (Sept 29), San Francisco (Oct 4), and London (Oct 11).
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