REDD and the private sector
The private sector will have a critical role to play in nearly any REDD system. Land owners, corporations, deal-makers and traders are but a few of the likely players. This group is aimed at providing an opportunity for members of the private sector who are interested or involved in REDD to follow developments, to share experiences, to let others know about their activities and to develop partnerships with others active in the sector.
A key group of what may be termed 'anti-REDD NGOs', including Friends of the Earth, the Rainforest Foundation, Greenpeace and FERN, has issued a report entitled "REDD+ and carbon markets: 10 myths exploded." The report examines and attempts to pick apart such so-called 'myths' as the following:
Myth 1: REDD+ represents a low-cost abatement option, enabling greater and faster emissions cuts than could be achieved for the same total costs with fossil fuel reductions alone. This is essential for stabilising GHG concentrations at the scale and speed necessary to avoid the most catastrophic effects of climate change.
UNEP, the World Bank and other partners have just published a guidebook called "Bringing forest carbon projects to the market." The objective of the guide is to instruct project developers and financial investors on how to develop and implement projects in the forest carbon markets. It analyses the issues that have so far limited the market, describing best practices and success stories, as well as pitfalls to be avoided. The guide aims to instruct both developers and investors on how to finance forest carbon projects, how to sell credits, and on factors to consider when registering a forestry project in the CDM or voluntary carbon market. It also
Environmental Finance Magazine is organizing a Conference on "Forestry, Biomass & Sustainability: Investment opportunities and carbon reductions," to be held from 13-14 May in London. The Conference will offer "a full analysis of recent developments in policy, economics and financing of forestry and biomass projects." Keynote speaker will be Tim Rollinson, Director General of the UK Forestry Commission and Chairman of the Global Partnership on Forest Landscape Restoration. The Conference will feature more than 30 other panelists and speakers.
ECO2 Forests Inc. announced on 1 February that it had entered into an agreement to acquire controlling interest in certain projects of Forest Guard Inc., a privately held company specializing in for profit REDD projects. ECO2 intends to realize revenue from the sale of carbon credits generated by the development stage and future projects of Forest Guard Inc. in Mexico and Brazil as well as from other projects that the company is now reviewing.
Collie Christensen, ECO2 Forests CEO, stated, "Acquiring Forest Guard is a significant and decisive transaction in the growth of ECO2. We expect it will further strengthen our position in the highly lucrative carbon trading market as well as provide traction within the REDD (Reduce Emissions from Deforestation and Degradation) scheme agreed to in Copenhagen 2009."