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Can Money Grow on Trees? Reducing Emissions from Deforestation (REDD)
Embargoed until 1200am 1/11/2010
16/2010
Can Money Grow on Trees? Reducing Emissions from Deforestation (REDD)
A new report by the Australian Council for International Development (ACFID) and the Australia Institute warns that future carbon offsetting schemes which involve forests and land use in developing countries carry significant risks for Australian investment. These must be overcome if REDD's potential is to be achieved.Such schemes, known as 'REDD', involve compensating developing countries that reduce carbon emissions from deforestation and land degradation. Australia is angling to purchase carbon offsets in countries like PNG and Indonesia in a future carbon market.
Can money grow on trees? Reducing emissions from deforestation and degradation (REDD) in developing countries, authored by the Australian National University’s Associate Director at the Centre for Climate Law and Policy, Andrew Macintosh, identifies a number of challenges associated with possible future REDD schemes.
“We need to beware of carbon traders bearing gifts,” said Marc Purcell, Executive Director of ACFID.
“A worst case scenario is that REDD schemes become unaccountable and bring no financial benefits to poor communities, with revenues going into the pockets of dodgy companies or dubious officials.
“There is a risk that Australian companies could be fooled into thinking they are being green buying REDD offsets on a future carbon market, when a lack of transparency and poor forest management may mean that carbon emissions are really leaking from forests into the atmosphere.
“If money is really to grow on trees as some hope, and REDD schemes are to benefit communities, they must have sound governance, ensuring real reductions on the global carbon footprint and the maintenance of local communities’ rights,” he said.
Author Andrew Macintosh explained that REDD schemes offer hope that if developing countries reduce their deforestation, carbon emissions will be reduced overall. The schemes also promise massive revenues from wealthy countries flowing to developing countries in return.
“Deforestation and changes in land use are currently responsible for up to 12% of the world’s carbon emissions,” Dr Macintosh said.
“Well-designed REDD schemes can help reduce poverty, protect biodiversity and promote more sustainable futures in developing countries. However, we need to make sure that REDD schemes are designed to reduce their possible negative side-effects.”
Australia is a leader in working in developing countries such as Indonesia and PNG to pilot REDD schemes through its aid program. As we and other nations prepare for the next UN Climate Change meeting in Mexico in November, ACFID is calling for solutions to climate change to be based on a sustainable development framework.
Media Contact: Joy Kyriacou 0412 084 782
For a full copy of the report go to www.acfid.asn.au
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