Financing REDD through carbon finance presents serious problems, both for the forests and for addressing runaway climate change. In a presentation in March 2008, Andrew Aulisi, Director of the Markets & Enterprise Program at World Resources Institute, explains why he thinks that carbon finance for REDD is not a good idea:
The European Commission will tomorrow state that it is opposed to the inclusion of forest-based carbon credits in the ETS, in a wide-ranging Communication on deforestation and how the European community plans to deal with it. The Communication will say that the aim should be to reduce deforestation by 2020 and halt it by 2030.
Gordon Brown, the UK Prime Minister, will today launch the long-awaited report of his Special Representative on Forests and Renewable Energy, on how to save the world’s forests and prevent climate change.
At the IUCN’s World Conservation Congress in Barcelona, indigenous leaders from seven countries demanded more say in how tropical forests should be managed to fight climate change. The meeting included calls for free, prior and informed consent to be recognised.
Conservation campaigners were misled into believing that the Worldwide Fund for Nature (WWF) supported the inclusion of ‘avoided deforestation’ credits within the the European Emissions Trading Scheme (ETS) ahead of Tuesday’s vote in the influential Environment Committee of the European Parliament.