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Last week, an organisation called Avoided Deforestation Partners launched what they blandly describe as “an agreement on policies aimed at protecting the world’s tropical forests”. Under this agreement, “companies would be eligible to receive credit for reducing climate pollution by financing conservation of tropical forests”. It is a loophole allowing industry to write a cheque and continue to pollute.
On the eve of the Poznan UNFCCC Conference of Parties, even pro-market and cautious expert groups are starting to sound alarm bells about the possible impacts of cheap ‘offsets’ on existing carbon markets. The widely respected and UK government-backed London-based Carbon Trust, which provides advice on carbon reductions to industry and governmental agencies, has warned that carbon offsets could swamp the European Emissions Trading Scheme, with “strong implications” for the price of carbon (see full article below). |
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