Last week, Senator Bob Wieckowski (D-Fremont) and Senate President pro Tempore Kevin de León (D-Los Angeles) gave a press conference about a new bill, SB 775, aimed at changing California’s cap-and-trade scheme. The proposed bill would start a new cap-and-trade scheme in 2021 that would include no offsets, no free pollution allowances, and a per-capita dividend.
In August 2012, the Independent Evaluation Group of the World Bank published a review of the Forest Carbon Partnership Facility (FCPF). The review revealed some serious problems with the FCPF and the Independent Evaluation Group recommended that the World Bank should re-think its approach to REDD.
Peter Holmgren is Director General of the Centre for International Forestry Research. In January 2017, he was invited to give a keynote presentation at the International Society of Tropical Foresters conference at Yale University. During his presentation, Holmgren announced that REDD has disappeared.
The Juma Sustainable Development Reserve covers an area of 589,612 hectares in the municipality of Novo Aripuanã, in the state of Amazonas, Brazil. On its website, the project developer Fundação Amazonas Sustentável states that, “FAS is committed to protect forests and improving the life quality of people that live there”.
A new report by Re:Common and Counter Balance investigates the Althelia Climate Fund and its investment in a REDD project in Kenya. The report highlights the findings of a July 2016 visit to the Kasigau Corridor REDD+ project area in Kenya.
In September 2015, Norway and a handful of European countries launched the Central African Forest Initiative. CAFI is aimed at reducing emissions from deforestation in Democratic Republic of Congo (DRC), Gabon, Cameroon, Equatorial Guinea, the Central African Republic and the Republic of Congo.
In 2016, Sara Peña Valderrama completed her PhD in social anthropology, where she studied a forest carbon project run by Conservation International in Madagascar. Her thesis is available on Durham University’s website: Entangling Molecules: an ethnography of a carbon offset project in Madagascar’s eastern rainforest. She submitted this Guest Post about what happened when the project changed to a carbon project. She is currently a Honorary Research Associate at Durham University.
Norway launched REDD in Tanzania in 2008, with a promise to fund US$83 million over a five year period. But in a recent article in Development Today, Jens Friis Lund, Mathew Bukhi Mabele and Susanne Koch argue that Norway’s involvement in REDD in Tanzania “failed to produce models that work”.
On 1 November 2016, I wrote about the International Finance Corporation’s launch of a US$152 million bond. According to the IFC’s press release, the bond will “protect forests and deepen carbon-credit markets”. The reality is that the IFC is bailing out Wildlife Works’ Kasigau Corridor REDD project in Kenya, a project that had failed to raise enough money from sales of carbon credits. The carbon credits provide some green REDD froth on IFC’s business as usual.
Yesterday, the World Bank’s private sector arm, the International Financial Corporation launched a US$152 million bond aimed at supporting REDD and carbon trading. The deal demonstrates just about everything that’s wrong with REDD.
“The aim of reducing the emissions from forest destruction and degradation caused by industrial agriculture, logging, mining for fossil resources, etc. is today decisive to the survival of humankind and our planet. However, when the tool to achieve this aim is the trading of emission credits (offsets), we arrive at the wrong solutions.”