Carbon credits from forest conservation would crash carbon market, says Greenpeace

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Forestry related projects promoting afforestation and or reforestation are central to the CDM. Not surprising a number of these projects have been approved and are under consideration from Asia to South America. Its importance was underlined when the Precious Woods project in Brazil secured Latin America’s largest issue of carbon credits under Kyoto’s Clean Development Mechanism (CDM).: 512,000 CERs.
Greenpeace is sounding the alarm warning that the :
Inclusion of forest conservation in a market-based mechanism for reducing greenhouse gas emissions would crash carbon prices by swamping the market with cheap credits...low carbon prices would "derail global efforts to tackle global warming" and cause "developing countries losing out on billions of dollars a year for investment in clean energy technologies".
To that effect Greenpeace is, proposing a hybrid market linked Tropical Deforestation Emission Reduction Mechanism (TDERM) under the UNFCCC and its Kyoto Protocol ...outlined that can effectively incentivise and reward efforts to simultaneously meet the twin goals of:
• Reducing emissions from deforestation in tropical developing countries.
• Protect biological diversity and ecosystem services intrinsic to tropical forests.
Follow the link above for details on their proposal.


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