News from RRI »
Accra Caucus Press Release: Leading Southern NGOs Slam Durban Proposal to Create New Forest Carbon Market
8 December 2011
FOR IMMEDIATE RELEASE
PRESS RELEASE: Durban, South Africa
Recent collapses in carbon markets and widespread opposition from forest peoples and non-governmental organisations have not stopped governments gathered in Durban from trying to build momentum for the creation of a new forest carbon market as part of the response to deforestation and climate change.
The Accra Caucus on Forests and Climate Change,
a coalition of around 100 civil society and indigenous peoples organisations
from 38 countries, called on governments in Durban to reject forest carbon
trading after a new draft decision  related to REDD (Reducing Emissions from
Deforestation and forest Degradation) specifically included “market-based”
sources of financing, which opens the door for as forest carbon market allowing
developed countries to ‘offset’ emissions reductions.
“By selling carbon offsets from our forests, we would be abandoning the solution to the climate crisis”, said Cecile Ndjebet, President of the African Women’s Network for Community Management of Forests. “Developed countries have the historical responsibility for climate change and trading carbon forest offsets would shift the burden to developing countries, and would prolong the heavily-polluting industries that created the problem”.
At the same time, existing carbon markets are
in a state of crisis. The carbon price in Europe is at its lowest in almost 3
years , and credits traded in the Clean Development Mechanism under the
Kyoto Protocol have fallen to an all time low , unable to cover basic
project costs. “We’ve seen financial markets crash in recent years, and a
forest carbon market would also be volatile and liable to boom and bust, still rich
governments insist this is the best way to finance forests” said Nat Dyer of Rainforest
Foundation UK “Forest carbon markets are an extremely inefficient way to get
money to where it’s really needed. The largest part is captured by carbon
traders and by expensive external consultants.”
“Any decision in Durban that opens the door to the use of offset trading to fund forests would be a disaster for the climate, the forests and the people who depend on them,” said Belen Paez of Fundacion Pachamama in Ecuador. “Agreeing to fund forests from carbon trading gives the illusion there is money being offered for forest protection, when what is really needed is from predictable and sustainable investment to combat the drivers of deforestation.”
Contacts in Durban:
Kate Dooley, FERN, Brussels: +27 (0) 714115194, firstname.lastname@example.org
Monica Lopez Baltodano, Centro Humboldt, Nicaragua: +27 (0) 820097621, email@example.com
Cecile Ndjebet, REFACOF, Cameroon: firstname.lastname@example.org
Yuyan Indradi, Greenpeace Indonesia: email@example.com
Notes to editors:
1. Work of
the AWG-LCA Contact Group, Agenda item 3.2.3. Version 2 December 2011, @ 09.35
Union carbon permits (EUAs) fell more than 3 percent early on Thursday December 7th, trading at
7.09 euros a tonne.
3. Prices for UN Certified Emission Reductions, or CERs,for December delivery settled at 5.03 euros ($6.52) a metric ton on the ICE Futures Europe exchange on December 6 2011, the second-lowest closing price since they began trading in 2008. CER credits have lost 80 percent from their peak of 25 euros in July 2008 and down about 56 percent this year.
Posted By Angela Strader at 11:35am on December 08, 2011
This blog may contain links to external websites. These links should not be construed as endorsements by Rights and Resources of the content present. They are provided for informational purposes only.