Press Release – Washington, DC | 20 December 2017 | Many of the 195 countries who signed the historical Paris Agreement in 2015 look to forests as tools for achieving their climate goals because of forests’ potential to absorb carbon from the atmosphere. Policies that stop deforestation and encourage replanting practices could contribute over one-third of the total emissions reductions countries need to achieve by 2030. But to play their part successfully, forests need to be more valuable standing than cleared.
Putting a price on the carbon stored within forests is an important step in this context and key to financing sustainable forests. Forest Trends’ Ecosystem Marketplace recently released the latest report in a series that looks at how much money goes towards carbon storage in forests through carbon offsets. The report examines where such finance currently goes (which countries, which types of projects), and why – providing details around what facilitates forest carbon transactions, and identifying supply and demand trends.
For 2016, the report found that:
“Despite commendable progress towards protecting forests, carbon finance is still dwarfed by investments in the drivers of deforestation, like infrastructure development and agriculture,” says Kelley Hamrick, Senior Associate at Forest Trends’ Ecosystem Marketplace and lead author of the report. “To bring forest carbon finance to scale, more carbon pricing systems need to include forest and land-use carbon and forest conservation, and restoration needs to occur at larger scales. For the latter, REDD+ programs are particularly effective because they have potential to halt deforestation across entire jurisdictions or countries, and many are almost operational. The groundwork has been laid, now it is time to forge ahead.”
Never miss another article! Join Devin here: http://bit.ly/joindevin.