The International Civil Aviation Authority is currently considering how it can continue to expand while appearing to address greenhouse gas emissions from flying. Predictably, for a massively polluting industry with huge plans to expand, buying cheap offsets looks very attractive.
In order for REDD projects to generate carbon credits, a “baseline scenario” has to be created. This is supposed to reflect what would have happened under business-as-usual, or what would have happened in the absence of the REDD project.
On 13 June 2013, the European Investment Bank agreed to give up to €25 million to Athelia Climate Fund. This is the first time that the European Investment Bank has funded a European carbon fund. It is also the first time that the EIB has supported REDD, and it is doing so through a financial intermediary.
Six years ago, Norway and Indonesia signed a US$1 billion REDD deal. This week the Financial Times published an article about how the attempts to preserve Indonesia’s forests are going. The only good news is that in more than 3,800 words, Pilita Clark, the FT journalist, doesn’t mention REDD once.
A new paper in Conservation Biology starts with the following sentence: “Increasingly, one hears furtive whispers in the halls of conservation: ‘REDD+ is dead; it’s time to cut our losses and move on.’”
“Governments have signalled an end to the fossil fuel era,” reported the Guardian on Saturday. “Nearly 200 countries signed on to a legal agreement on Saturday evening that set ambitious goals to limit temperature rises and to hold governments to account for reaching those targets.”
The fires in Indonesia this year are the greatest environmental disaster of the 21st century (so far). An area of about 2.5 million hectares of forest and peatland burned. Visibility was reduced to 30 metres in places. At least 19 people died. By the end of October, there were 500,000 cases of respiratory tract infections.
On the first day of the UN climate negotiations in Paris, the governments of Germany, Norway and the United Kingdom pledged US$5 billion for REDD, between 2015 and 2020. The GNU countries say they “have signaled they will increasingly target results-based finance for countries who deliver verified REDD+ emission reductions”.
A company called London Carbon Neutral Ltd and eight linked companies have been shut down in the High Court in London. The companies were shut down after “high pressure and intimidating sales people had targeted the elderly and vulnerable” to sell them carbon credits as investments.
On Monday, Guyana’s Finance Minister, Winston Jordan, presented the state budget in Parliament. In his speech, he slammed the proposed Amaila Falls hydropower dam, the flagship project of Guyana’s Low Carbon Development Strategy.