FERN’s EU Forest Watch reports on the EU Emissions Trading Scheme directive, which was adopted on 17 December 2008. Forest credits are excluded from the ETS until at least 2020. This is good news, although they should be excluded after 2020 as well.
In its statement on the final day of the COP in Poznan, the International Indigenous Peoples’ Forum on Climate Change repeated its demand “for an immediate suspension of all REDD initiatives and carbon market schemes. Cut emissions at source ‐ No REDD.”
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…
One of the key issues related to REDD is that of risk. All trade carries an element of risk, but there is general agreement that the risks associated with forest carbon trading might be substantial, and possibly unresolvable, at least in the short term.