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Financing the World's Forests: integrating markets and stakeholders
1. Climate Change: Financing Global Forests Graham Floater www.occ.gov.uk
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3. Emissions from forests are significant... Global GHG emissions by sector Sources: IPCC Fourth Assessment Report (2007), IPCC GHG inventory (2007) and IEA World Energy Outlook (2007)
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7. Delivering the vision... How do we deliver this? The benefits A step change in how land is used and commodities produced Forests more valuable standing than cut Carbon finance Consumer awareness & regulation Policy incentives in forest nations Poverty reduction Protection of biodiversity & water systems Substantial emissions reductions Lower costs of tackling climate change
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11. In the transition, four building blocks will be essential to access carbon finance... 1. Effective targets National baselines, inclusive of all countries 2. Robust measuring Forest credits based on real reductions in forest emissions 3. Linking to carbon finance Carbon markets and other funding initiatives 4. Good governance International standards and full participation of forest communities
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14. 3. Linking to carbon markets can leverage substantial funds... Cap and trade systems Forestry recognised Rules for trading EU ETS Not yet Domestic and international forestry credits also excluded – current EU proposal ambivalent. US – Waxman Markey Yes Domestic forestry included in trading. International forest credits included. New Zealand Yes Domestic forest sector fully included in trading. Anticipates access for international forest credits. Australia (New South Wales) Yes Includes domestic sequestration credits. Anticipates access for international forest credits.
15. ...however, carbon market finance alone will not be sufficient in the medium term Global cap and trade 2030 target: carbon market finance could make the sector carbon neutral Funds from partial access to carbon markets Funding gap: $11-19 billion per year in 2020 2020 projection: carbon market finance could be $7 billion per year and fund a 22% cut in deforestation emissions Source: Modelling for the Eliasch Review Short term Medium term Long term Funding 2012
23. Supplementary analysis – distribution of finance within forest nations regions/ provinces National registry International forestry credits All units registered nationally to avoid ‘double counting’ State can opt to invest directly and keep the credits centrally... …or devolve credits to regional level …or allow investors and communities to certify projects and receive credits in return national fund
Notes de l'éditeur
Every year, the world loses an area of forest the size of England
Every year, the world loses an area of forest the size of England
What was the consensus on modelling results from the Washington conference? Ask Bernardo Why is deforestation rate decreasing?? Because modelled on Houghton? Isn’t rate increasing under Met Office predictions?
![The Eliasch Review ,[object Object],[object Object],[object Object],[object Object]](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)