sequestration

After nearly two years of developed countries discussing different options for rule changes for this sector, and not getting much farther than more clearly articulating the options that suit each country best, G77 and China said enough is enough and drew a line in the sand:

Nature knows how to capture and store carbon and has been doing so effectively for mellenia. We need this capacity in order to help us resolve the climate crisis we have created.

Sometimes you have to hand it to capitalism. It’s sheer magic, the way the system takes promising concepts, steeps them in the transformative power of the market – and turns them into howling social and environmental disasters.

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.