Over the past two weeks in forest carbon news Africa and China made big leaps, California assumed a holding pattern, Indonesia is (still) debating internally whether and how to move, and a handful of major international policy and finance meetings continue rolling in through Southeast Asia. Details on these and other stories inside Forest Carbon News.
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31 March 2011 | Over the past two weeks in forest carbon news Africa and China made big leaps, California assumed a holding pattern, Indonesia is (still) debating internally whether and how to move, and a handful of major international policy and finance meetings continue rolling in through Southeast Asia.
In Kenya, the African Carbon Exchange had a soft launch, showing off the new trading platform to reporters. In China, the Panda Standard is pulling back the curtain on a growing domestic appetite for carbon offsets and trading with the first contracted sales from a bamboo reforestation project.
California’s battle-tested Air Resources Board (ARB) has encountered challenges to their cap-and-trade plan at every corner. This month, a judge in San Francisco’s Superior Court ruled that the ARB didn’t adequately investigate alternatives to cap-and-trade before beginning the development of the program. It remains unclear whether this detour will result in a delay for the cap-and-trade start date of January 1, 2012.
In Indonesia, President Yudhoyono has been walking a fine line with forest industry and environmentalists eagerly awaiting a final signal on the President’s long-awaited decree on a moratorium for forest clearing, a key component of the $1 billion deal forged with Norway last year. Just how he plans to keep his pledge to keep Indonesia’s title as the world’s largest palm oil producer while honoring the REDD deal with Norway remains to be seen.
On the international policy and finance front, the UN-REDD Programme and the World Bank’s Forest Carbon Partnership Facility (FCPF) wrapped up board meetings in Vietnam last week. Ecuador received $4 million in funds to advance a national REDD program, and new funders put $57 million more on the table. On the FCPF side, the readiness proposals for seven countries were reviewed, and a progress report on the development of safeguard procedures for other finance delivery partners for FCPF funds was presented.
Up next, meetings of the UNFCCC Ad Hoc Working Groups will be kicking off April 3 in Bangkok and are slated to include discussions of the much-debated “elaboration of market-based mechanisms” for climate finance delegated from Cancun. And on the heels of the UNFCCC, the 71 countries and numerous stakeholders comprising the REDD+ Partnership will also be in session in Bangkok, the first meeting with new co-chairs at the helm.
As always, read on for all this and more of the latest news and events in this, latest edition of Ecosystem Marketplace’s Forest Carbon News Brief.
—The Ecosystem Marketplace Team
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