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Climate bill needed to secure forestry plans for carbon offsetting
15/01/2010
The new State of the Forest Carbon Markets 2009 report says that without a US climate bill or a successor to the Kyoto Protocol, plans to offset carbon through forestry could stall.
The report states, ‘at the end of 2009, the market for forest carbon stands in an uncertain position on the verge of potentially enormous growth.’ However, it continues to explain how more definite plans need to be put in place: ‘amidst this scene of opportunity and risk, investors are still eyeing forest carbon, though many are waiting on more definite regulatory signals before taking a financial leap.’
Although no final agreement was made in terms of a climate bill at the Copenhagen climate summit, the US did pledge $1 billion towards the reduction of emissions from deforestation and degradation (REDD) scheme.
This, along with a further $3.5 billion pledged by other nations is great news for the forestry industry and those investing in forestry. The market for forest carbon has increased five-fold since 2006.
However, according to the report, this could be boosted even further if a new global pact is made to commit to carbon reduction plans.
The report states, ‘at the end of 2009, the market for forest carbon stands in an uncertain position on the verge of potentially enormous growth.’ However, it continues to explain how more definite plans need to be put in place: ‘amidst this scene of opportunity and risk, investors are still eyeing forest carbon, though many are waiting on more definite regulatory signals before taking a financial leap.’
Although no final agreement was made in terms of a climate bill at the Copenhagen climate summit, the US did pledge $1 billion towards the reduction of emissions from deforestation and degradation (REDD) scheme.
This, along with a further $3.5 billion pledged by other nations is great news for the forestry industry and those investing in forestry. The market for forest carbon has increased five-fold since 2006.
However, according to the report, this could be boosted even further if a new global pact is made to commit to carbon reduction plans.
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