Post by hasan77 on Feb 15, 2024 0:32:12 GMT -5
Slowly and with many restrictions Tropical forest jurisdictions that are achieving large-scale reductions in tropical deforestation and associated carbon emissions, and others that aspire to do so, have had a difficult time translating these successes into compensation, new low-carbon business ventures or other benefits for their regions. Regulated market mechanisms for financing jurisdiction-wide declines in emissions from tropical deforestation have not yet been finalized, missing an opportunity to recognize and reward tropical forest governments that are successfully combating tropical deforestation.
California is ready to launch its tropical forest offsets program, and on Sept. 6 announced its draft "California Standard for Tropical Forests," just one step short of launching the first regulated market for tropical forest emissions reductions. California has established a high bar of rigor and transparency for both verifying emissions reductions Fiji Email List and guaranteeing that the rights and livelihoods of indigenous people other forest communities are respected. This new California development could encourage other new carbon markets, such as those under development in China, the International Civil Aviation Organization and elsewhere, to follow suit.
As the world waits for a robust carbon pricing mechanism, climate finance for tropical forests has been a lifeline to many jurisdictions, lending credibility and political cover to bold political decisions to solve tropical deforestation; it also has provided critical financing for activities on the ground. Climate finance is still quite limited in scale ($2.3 billion have been disbursed or committed to the 39 jurisdictions) and flows slowly, usually through complex national government channels. Opportunity 2: Make tropical forest jurisdictions more bankable and business-friendly while putting verified emissions reductions to work Most of the world’s tropical forest regions are challenging places to do business and risky places to make investments, and the 39 jurisdictions we studied are no exception.
California is ready to launch its tropical forest offsets program, and on Sept. 6 announced its draft "California Standard for Tropical Forests," just one step short of launching the first regulated market for tropical forest emissions reductions. California has established a high bar of rigor and transparency for both verifying emissions reductions Fiji Email List and guaranteeing that the rights and livelihoods of indigenous people other forest communities are respected. This new California development could encourage other new carbon markets, such as those under development in China, the International Civil Aviation Organization and elsewhere, to follow suit.
As the world waits for a robust carbon pricing mechanism, climate finance for tropical forests has been a lifeline to many jurisdictions, lending credibility and political cover to bold political decisions to solve tropical deforestation; it also has provided critical financing for activities on the ground. Climate finance is still quite limited in scale ($2.3 billion have been disbursed or committed to the 39 jurisdictions) and flows slowly, usually through complex national government channels. Opportunity 2: Make tropical forest jurisdictions more bankable and business-friendly while putting verified emissions reductions to work Most of the world’s tropical forest regions are challenging places to do business and risky places to make investments, and the 39 jurisdictions we studied are no exception.