Forest carbon

Bunge 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.

TONY EASTLEY: When the Prime Minister and the Tasmanian Premier signed a forestry agreement last year it appeared that an end was in sight to the protracted and bitter Tasmanian forestry debate.

This morning however the deal would appear to be in tatters.

Felicity Ogilvie reports from Hobart.

FELICITY OGILVIE: The timber company Ta Ann's announcement that it will cut up 40 jobs as a result of environmental groups lobbying against it has thrown the Tasmanian forest peace deal into disarray.

What 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?

California's call to reduce greenhouse gas emissions by 2020 means new revenue for timber landowners willing to play the carbon-offset market.

The 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.