There is a new wave of entrepreneurs aiming to get rich by
saving the rainforests. Richard Lofthouse reports
Ever wanted to get rich by doing absolutely nothing? In a bizarre way that’s what a bunch of new entrepreneurs and large corporations are trying to do. The formula is ridiculously simple: buy up or lease a tract of rainforest, prop up a deckchair and watch it grow. Put a financial price on its mere existence and sell a range of ‘products’ – called ecosystem services – to polluters. If trees could hear, they’d be setting up trade unions.
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Carbon prices at all time low as of - 09 Feb 2009
Carbon price close to record low as European sell-off continues
Experts predict €10 EUAs could represent good deal for long-term investors
The price of carbon allowance in the EU emissions trading scheme (ETS) was at close to record lows in trading this morning as weak energy commodity prices and a continued sell-off of allowances from heavy industry continued to drive down the price.
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...market makes mega-pollution cheap
Europe's system to edge up the cost of emissions and boost green energy has backfired. There isn't much time to rescue it
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The free market has got us into this mess, and the free market will get us out of it.
This nonsensical idea is at the heart of all carbon trading measures, the Rudd government’s Carbon Pollution Reduction Scheme (CPRS) included.
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Carbon trading activity doubles over year in spite of price fallsThe carbon market showed a remarkable growth spurt in the first quarter of this year, with trading volumes up 37 per cent, new data show. Trading was driven by price volatility and companies selling carbon permits to raise short-term cash.
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The World bank's strategy on forests and climate change
Gerhard Dieterle (World Bank Forest Advisor), Civil society event at the World bank spring meetings 2009, 24 April
By 2050 it is believed that 75% of fiber will be grown in fast growing plantations.
There are opportunities in this for developing countries, however the revenues must stay in the countries to be beneficial.
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REDD carbon trading - the next bluff of finance markets?LONDON/NUSA DUA, Indonesia (Reuters) - It could save the rainforests of Borneo, slow climate change and the international community backs it. But a plan to pay tropical countries not to chop down trees risks being discredited by opportunists even before it starts.
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UK kicks Climate debate in front of CopenhagenGordon Brown puts $100bn price tag on climate adaptation. Prime minister attempts to move stalling political talks on global warming away from targets and towards the cost of mitigation.
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Brazil still against REDD - but not against fighting deforestation...While committed to stopping deforestation, Brazil sees a carbon trading scheme as the wrong way to proceed. On climate change mitigation, it wants commitments to reflect historic emissions.A scheme that would allow developed nations to gain carbon credits by supporting forest conservation is on the agenda of the UN conference in Copenhagen this December, but the home country of the Amazon, the world’s largest forest, now turns its thumb down.
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Africa's first CDM forest projectTrees will return to a vast eroded grassland in Uganda as Africa's first Clean Development Mechanism forestry project evolves.
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Faulty systems at the Bank's Forest Carbon Partnership FacilityAs the Bank seeks to position itself as the vehicle of choice for future climate finance, the experience of the Forest Carbon Partnership Facility (FCPF) calls its competence into question.
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Forestry's Growing Role in Carbon FinanceOne of the bright spots at the Copenhagen climate change summit could be the establishment of a scheme to protect forests and their carbon-absorbing capacity
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Social and environmental standards for REDD and other forest carbon programsSocial and environmental standards for REDD and other forest carbon programs
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Nestle Waters (Vittel): Carbon offsetting programmes in PeruNestle Waters France wants to offset emissions from its factories in the west by buying trees in a rainforest thousands of miles away..
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PCF
At the close of calendar year 2009, the Prototype Carbon Fund has 23 of 24 projects generating emission reductions and eight of the PCF’s CDM projects have issued Certified Emission Reductions. In early 2010, the PCF successfully completed its first transfer of Kyoto assets from its projects in Annex I countries.
Fund Capital ($ million) 219.8
Date Operational April 2000
Participants 22
Private % (by capital invested) 57.6
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Community Development Carbon Fund
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Fighting Global Warming by Saving British Columbia's Old Growth ForestsSeven western states and four Canadian provinces have joined forces in a plan to limit greenhouse gas emissions.
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Seven major bilateral and multilateral funding initiatives have recently been created to support the new concept of Reducing Emissions from Deforestation and Forest Degradation.
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Rockefellers' 1Sky Unveils the New 350.org: More $ -- More Delusion
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Funding for Forests: UK government support for REDD+
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Carbon investors turn to forestry
At an Environmental Finance conference this month, financers signalled strong interest to invest in forest carbon projects. Given that imminent investment is needed, how close are we to a framework that propels financers to back forestry?
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Workshop on Private sector engagement on REDD+ in Lao PDRIn the last months, the Government of Lao PDR received proposals from numerous private enterprises seeking to develop forest carbon projects in Laos.
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Assessing the Financial Flows for REDD+: the Pledge-Implementation Gap
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Forestry Investments in Emerging Marketsnvestments in forestry have many desirable features. Under certain conditions, forestry investments yield attractive returns to investors and can contribute substantially to the economic, social and environmental development of countries.
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International Forest Carbon Association (IFCA)Carbon Positive is involved with a number of participants in the forest carbon sector to establish a representative organisation, the International Forest Carbon Association (IFCA).
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Gone are the days of talking only about timber and other forest product in the context of the forest. With these products as it is, another opportunity growing in the forests is carbon. Interestingly, the standing trees could deliver money without dying, and help communities invest on climate-change adaptation.
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Finance sector favours ‘nested’ approach to REDD+A hybrid mechanism, in which tradable credits can be issued directly to forest carbon projects, as well as to national governments, is the clear preference of the private finance sector for rewarding projects that reduce deforestation and forest degradation (REDD+), according to a report from the
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LTS Safeguarding REDD+: Working Towards Robust, Efficient and Transparent Financial Governance Global Witness has contracted LTS to identify the main risks in REDD financial flows (from both public and private sources) from international to local level, and to propose appropriate financial audit mechanisms and safeguards to mitigate these risks.
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REDD+ potential funds reach up to Rp270 trillion: CIFORThe potential flow of funds from advanced nations to developing countries to deal with deforestation through REDD+ programs is estimated to reach up to US$30 billion or Rp270 trillion annually, according to the Center for International Forestry Research (CIFOR).
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REDUCING the risks of climate change is not a technological problem. There are many ways to generate electricity, drive cars or grow crops without emitting much carbon dioxide—but they are expensive.
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Pilot Forest Carbon Trust Fund: Rewarding local communities for forest conservationThis is the first Forest Carbon Trust Fund in Nepal, and lessons learnt from this pilot project will be vital for understanding what kind of governance system will be required for implementing REDD+ at the national level when communities are actively involved in forest management.
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REDD+: a win-win deal is possible!
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Forest Communities in Burkina Faso, Ghana and DRC to Benefit From Dedicated CIF Grant (AfDB)In the coming year, pilot countries of the Climate Investment Fund's (CIF) "Forest Investment Program" (FIP), including Burkina Faso, Ghana and the Democratic Republic of Congo, can expect to see additional support for their REDD+ activities in the form of a Dedicated Grant Mechanism for Indigeno
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Beyond repair? Bank lobbies for carbon markets
As UN climate talks loom, the Bank is lobbying G20 countries to resuscitate shrinking carbon markets through controversial measures, including using public climate finance to stimulate demand and creating markets for soil and forest carbon.
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Norway accused of hypocrisy over RI deforestation fundingNorway has been accused of climate hypocrisy in Indonesia, where it has won plaudits for financing forest protection even as its state pension fund allegedly secures even greater revenues from logging, plantations, mining and other environmentally destructive practices.
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Short-term climate funds on track, doubts over future(Reuters) - Rich nations are on track to deliver on their promise to supply $30 billion in short-term climate financing by the end of next year to help poor countries tackle global warming.
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A Change of Heart on Investing in the ClimateWhen State Street Global Advisors, the investment management arm of State Street Corp., offered its first
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Private sector needs quick decision on REDD financeTime is running out for key decisions on the financing of projects that reduce emissions from deforestation and forest degradation (REDD), said Abyd Karmali, global head of carbon emissions at Bank of America Merrill Lynch.
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Peruvian Amazon could become global centre of ‘carbon piracy’: reportThe Peruvian Amazon is the new global centre of “carbon piracy”, as banks, conservationists and entrepreneurs rush to snap up the legal rights to trade carbon, according to a report published today at the UN climate talks in Durban.
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Forest Bonds: Realizing a Net Zero Deforestation, Forest-Friendly EconomyHeating and cooling, timber, water, food, habitat, energy, massive storehouses of carbon – forests provide an incredible amount of direct and indirect ecosystem services to humans, along with all other forms of life on earth. That’s especially true of tropical forests.
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REDD+ finance delivery: lessons from early experienceDelivering REDD+ finance has taken more preparatory work, capacity and tailoring than initially envisaged.
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Blending Climate Finance through National Climate FundsClimate change is one of today’s most pressing threats to achieving sustainable development goals around the world. Countries must transform their economies and angle their growth with policies and actions across multiple sectors that lower greenhouse gas emissions, reduce vulnerability to climat
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World Bank: More donors supporting REDD+ but contraints aheadFinancial support for REDD+ projects to safeguard forests in developing countries is increasing with new countries pledging to get involved and existing donors stepping up their commitments, a World Bank official said.
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REDD-plus finance has received a lot of attention over the last years. This Brief describes the funding initiatives in support of this major international mitigation strategy and raises some ongoing challenges for the equitable delivery of climate finance.
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New funds to protect the climate through forest conservationWashington – In a sign of strong support for the reduction of greenhouse gas emissions through forest conservation, Germany has committed an additional EUR 30 million to the Forest Carbon Partnership Facility (FCPF). The German Ministry for Economic Cooperation and Development signed the agreement, which makes Germany the biggest donor to the Facility, with total commitments of EUR 84 million (approximately USD 110 million).
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ERA Surpasses 2 Million Tonnes in Carbon Offset SalesERA Carbon Offsets Ltd. is pleased to announce that the company has achieved a new sales milestone, having sold more than 2 million tonnes of forest based carbon offsets to customers and clients around the world.
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Guyana forest carbon plan struggles to get off paper(Reuters) - After decades of depending on bauxite, timber and gold for revenue, Guyana proposed five years ago that wealthy foreigners pay it to protect its tropical South American rainforests.
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Alternatives to carbon markets to finance REDDAt the beginning of the UN climate negotiations in Durban (COP17), FERN published a short report looking at carbon markets as a means of financing REDD.
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Mexico can’t see the wood for the treesAn indigenous community in Mexico wants to drop protected conservation status for its area because it feels it has lost real control of its land and way of life. Concern about carbon emissions is blinding policy makers to the failures of some of their conservation policies.
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REDD+: Funding for carbon trading projects haltedDar es Salaam. Funding for a carbon trading system known as Reducing Emissions from Deforestation and Forest Degradation (REDD) has been suspended until further negotiations between poor countries and powerful industrial nations.
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Proposals from the Private Sector for Engagement at Scale in REDD+In response to requests by senior representatives of leading companies, this project of the World Economic Forum aims to identify opportunities for greater engagement and investment in REDD+ activities for the private sector across the value chain, including by addressing drivers of deforestation
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Engaging the Private Sector in the Potential Generation of REDD+ Carbon Credits : An Analysis of IssuesClimate Focus led a team of experts to analyze opportunities for involving the private sector in the generation of REDD+ credits for the UK Department for International Development (DFID).
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Norway pledges $300 million/year to green world's power(Published by Thomson Reuters Point Carbon)
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Funding for climate change projects poor
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World Bank sees carbon finance role for years(Reuters) - The World Bank's carbon finance initiatives will likely be needed for at least five years, as the United Nations struggles to create a self-sufficient, int
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Can carbon finance protect forests and prevent climate change?Some of our clients will remember that The CarbonNeutral Company started business in 1997 trading as Future Forests, and will know that our services have always recognised the central role played by ecosystems in maintaining a stable climate.
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GEF Closes $160 Million Fund for Sustainable Forestry in AfricaGlobal Environment Fund, a U.S. private-equity firm with $1 billion under management, completed the closing of a $160 million fund for sustainable forestry in sub-Saharan Africa.
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REDD: Saving the Amazon rainforestInternational negotiators are closing in on a new solution for combating climate change — and saving the world’s remaining forests.
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Political insurance for PE funds
A new insurance product has been launched to cover private equity fund investments in Africa and other emerging markets against political risk.
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Community Carbon Accounting Research ProjectThe Community Carbon Accounting (CCA) Action Research Project was launched with the intention of elaborating approaches for engaging communities in forest carbon stock monitoring.
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Global Environment Fund beats target for Africa forestry fund Global Environment Fund (GEF) has raised $160 million into its Africa Sustainable Forestry Fund, exceeding its target of $150 million.
The Maryland-based fund manager claims the fund is the first private equity fund to focus solely on sustainable forestry in sub-Saharan Africa.
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New tool promotes forest offsets to consumersCanadian Reforestation project developer Taking Root has come up with a new online tool to help its offset buyers explain and promote their offsetting commitment to their own customers.
The CO2 Responsible communications kit is designed to help businesses get full value from their decision to offset their carbon emissions and tackle climate change, and promote the benefits of Taking Root’s social reforestation project in Nicaragua.
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Landholders rush to establish carbon forests Landholders spiralling interest in carbon forests has resulted in CO2 Australia investing an estimated $23.3 million in rural economies during 2011 and partnering with more than 300 farming families.
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Tanzania: Country to Benefit From U.S.$500 Million Climate Funds
Tanzania is among countries that would benefit from funds donated by Norway to finance projects that aim at reducing the effects of climate change.Reduced Emissions from Deforestation and Forest Degradation (REDD).
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Spain Needs $466 Million in Carbon Credits to Meet Kyoto Limit
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Govt spends half of climate funds Dar es Salaam. Tanzania has only spent half of Norwegian funds on Reduced Deforestation and Land Degradation (REDD), the ambassador of Norway, Ms Ingunn Klepsvik has said.Speaking to The Citizen recently, Ms Klepsvik said despite halfway expenditure on Norwegian REDD funds, the country has performed well in terms of preparedness in absorbing REDD funds in the future.
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UK invests £110m in IFC climate fundsThe UK government has invested £110 million ($157 million) into two new commercial funds, aiming to leverage in at least £3 billion of private capital for green investments in developing countries.
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GRIF funds disbursement awaiting agreement on projects THE Guyana REDD+ Investment Fund (GRIF) will not be available for disbursal until the Government of Guyana and its partners -- the Inter- American Development Bank (IDB) and the United Nations Development Programme (UNDP) --
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Irish finance bill ‘opens door to forest bonds’Ireland has become the first country in the world to recognise forest carbon credits in its tax regime – paving the way for the issuance of forest bonds, according to a leading banker.
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California cap-and-trade law spurs U.S. forest carbon projectsNow that California's carbon market has arrived, an Australian-based company that specializes in forest carbon offsets has jump started two forest projects with private landowners in the western U.S. The new company, Forest Carbon Partners, will make the projects available as carbon offsets for California polluters.
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A deep dive into climate financeWhat does climate finance really mean? Do we mean dedicated funds mobilized by donors in the carbon market, or do we mean funds actually used for mitigation and adaptation action?
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Bunge Buys Climate Change Capital After C02 Prices PlungeBunge Ltd. (BG), the world’s second- largest oilseed processor, won approval to acquire Climate Change Capital, a London fund manager that manages the world’s largest private-sector carbon fund, after C02 prices slumped to a record.
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UN support for soil carbonTHE United Nations has thrown its support behind soil carbon, but Australian attempts to create a market mechanism to reward the building of soil carbon reserves are still mired in complexity.
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Safeguarding REDD+ Finance: Ensuring transparent and accountable international financial flowsFunding forest protection in developing countries poses numerous financial risks: from inefficient allocation through to mismanagement of funds, misappropriation and corruption.
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Nigeria: Nation Gets U.S.$4 Million Grant From UN-REDD
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Guayna's GRIF - What happens to the money?
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EU nations get cold feet over climate change fund(Reuters) - EU nations have yet to come up with a plan on how to fill a multi-billion euro fund to help tackle climate change, even as the region's executive body hosts talks with countries likely to bear the brunt of extreme weather.
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Norway acts as others drag feet on carbon emissionsAdvocates of burying the world's carbon emissions underground have long pushed for a global price on greenhouse gases.
But their goal appears ever more elusive as nations fail year after year to agree on putting a price to carbon worldwide.
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Melbourne eyes Tassie forest investmentCity Council could invest in Tasmanian forest plantations protected from harvesting in an effort to become Victoria's first carbon-neutral council.
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Green Climate Fund: Critical negotiations aheadIt is heartening indeed to learn that Bangladesh has been nominated by the least developed countries (LDCs) to the Green Climate Fund (GCF) to help vulnerable countries fight climate risks.
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The Gold Standard expands: announcements on forestry & land-useBased upon consistent stakeholder lobbying and the strongly positive outcome of a 2011 scoping exercise, The Gold Standard Foundation is expanding its project scope into land use and forestry.
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The Israelis saving the rainforestsA company owned by Israeli entrepreneurs will manage preservation of tropical rainforests of the Central African Republic.
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Amazon Fund approved 30 projects with over $300 million in financingThe Amazon Fund, created in 2008 to promote projects for the prevention and combating deforestation and conservation and sustainable use of forests, has so far approved 30 projects.
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Disagreement on REDD finance at the “stalemate” climate negotiations in BonnLast year, emissions of carbon dioxide increased by 3.2% to 31.6 billion tonnes, according to figures released by the International Energy Agency.
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Asia CDM Stakeholder Consultations and Implications for CDM AR & REDD+A CDM policy dialogue with Asian stakeholders took place in Bangkok from 7-8 June 2012. Asia has more than 80% of the registered CDM projects in the world.
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JIKO Policy Paper 3/2010: REDD Crediting vs. REDD FundsSince 2005, the parties to the United Nations Framework Convention on Cimate Change (UNFCCC) negotiate how the protection of rainforests could be integrated into the climate regime.
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REDD+ a “game changer” in the move towards a global green economy, says Norwegian Minister Reducing emissions from deforestation and degradation schemes, or REDD+, could be the “game changer” that enables forest-rich countries to meet sustainable development goals and work toward a greener economy, said the Norwegian Minster for Environment at a recent CIFOR event.
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Calls for halt of World Bank's climate initiatives
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Growing benefits from forest carbon projects
Corporate responsibility managers should take a look at forest carbon offset projects to maximize return on investment in climate, biodiversity, and community benefits
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Ghana: Eight Million for Reducing Deforestation in Ghana
There are indications that the country could be benefitting from an eight million Cedi (GHC8 million) monetary support from the Embassy of Switzerland for the implementation of anti-deforestation initiatives in Ghana.
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Financing options to support REDD+ activitiesThis report has been prepared for the DG “Climate Action” of the European Commission.
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Regaining Momentum: Priority Tasks for the Green Climate Fund at its First Board Meeting The Green Climate Fund (GCF) is to become the primary multilateral channel for large-scale financing for adaptation and mitigation action in developing countries.
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First Meeting of the Green Climate Fund Board
When: Aug 23 - 25, 2012
Where: Geneva, Switzerland
Organized By: Green Climate Fund
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Outline of The Bilateral Offset Credit Mechanism
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Indigenous Peoples and the Green Climate Fund
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Brazil Perfects Monitoring of Amazon Carbon EmissionsA new system to calculate the amount of greenhouse gases generated by deforestation in Brazil’s Amazon jungle region has come at a good time for assessing the effects of the reform of the country’s forest code.
The new satellite system optimises government monitoring of forests.
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"Developed countries have vowed to help the developing world get up to speed on REDD, and many say they’re putting up billions towards the effort. Few, however, have actually followed through on their promises, and those who say they have aren’t doing a good job of proving it. The REDD+ Expenditures Tracking Project aims to change that."
There is a nice article at the Website of Ecosystem Marketplace from Kelli Barrett. I just start to cite the first paragraph - read further at there site:
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UNFCCC Releases Technical Paper on Financing Options for REDD+26 July 2012: The UNFCCC Secretariat has released a technical paper (FCCC/TP/2012/3) on financing options for the full implementation of results-based actions relating to the activities referred to in decision 1/CP.16, paragraph 70 (reducing emissions from deforestation and forest degradation in
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Kyoto carbon credit glut is far larger than expected, warn analystsThe giant surplus of carbon credits currently swamping the global carbon market may never recede, removing any hope of reducing global emissions without a significant increase in national emission reduction targets, campaigners will warn today.
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Forest project issued CO2 credits for California marketProject developer Finite Carbon announced Wednesday it has registered a project that has issued 200,000 offsets eligible for use in California's cap-and-trade system, bolstering the currently short supply of credits available in the forthcoming market.
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