Allowing carbon credits from forests to be traded under the European Union Emissions Trading Scheme (ETS) would create a enormous loophole, allowing EU Member States to buy their way out of emissions reductions.
The EU outlined its plans for carbon markets in relation to forests at a press conference today (5 December 2008) in Poznan. The EU aims “to halve the total forested area loss in the tropics by 2020, and to halt the global forest cover loss completely by 2030 at the latest” and estimates that this…
Yesterday, 4 December 2008, the EU held a press conference, during which Reuters asked the question: “Will forest offsets be used within EU ETS? And what is EU’s view on avoided deforestation?” Here are the responses from Brice Lalonde from the French delegation and Jurgen Lefevre from the European Commission.
On the eve of the Poznan UNFCCC Conference of Parties, even pro-market and cautious expert groups are starting to sound alarm bells about the possible impacts of cheap ‘offsets’ on existing carbon markets.
As REDD-Monitor reported last week, the European Commission has decided not to include forests in the European Union Emissions Trading Scheme (ETS). FERN and Global Witness released the following press release praising the Commission’s decision.