
“Including forest protection measures in carbon markets would crash the price of carbon by up to 75 percent and derail global efforts to tackle global warming,” says Greenpeace in a new report released on the sidelines of the U.N. climate talks in Bonn. The report, “REDD and the effort to limit global warming to 2°C: Implications for including REDD credits in the international carbon market“, was carried out by a New Zealand-based economic modelling group called KEA3.
The report also found that including REDD credits in carbon markets would reduce investments in clean technologies worldwide, causing a “lock in” effect, leaving high-carbon technologies such as coal-fired power stations in place for many years to come. In addition, the report points out that “significant questions of permanence, leakage, and additionality have been raised about potential REDD credits; as well as the ability of countries to accurately measure, monitor, and report on such emissions.”
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