This Week in Forest Carbon: A Flurry of Developments
14 July 2011 | Is cap-and-trade a rose which by any other name would smell as sweet? Australia will be finding out shortly. A carbon tax is in the process of being unveiled down under against the country’s top 500 emitters, with an initial fixed price of A$23 per tonne that by 2015 ceases being a tax when the price will be allowed to float and voila, there’s your emissions trading scheme. On the financing front, news of major new funding commitments from the International Finance Corporation and World Bank’s Climate Investment Fund come at the same time as a brief assessment of fund-based financing for REDD shows the model is slower to deliver cash to the ground than many may have thought. Many countries are not deterred, however, as the UN-REDD Programme announces six new observers have joined the multilateral forum. And finally, as UN-REDD and FCPF publish joint papers outlining, among other things, lessons from various safeguard approaches, two indigenous coalitions in Peru call for a halt to the signing of any REDD+ contracts in their region until more of the details about the sub-national projects and broader national and international REDD+ programs are settled and shown to respect indigenous and community rights. International Policy Pay me to Preserve my PreserveThe 10 country members of the Association of South East Asian Nations (ASEAN) are planning to play a role in pushing for further elaboration of a REDD mechanism at the climate talks set for South Africa this December. At a recent meeting in Bangkok of the ASEAN Senior Officials on Forestry, representatives articulated a desire to ensure REDD covers conservation in nature reserves and national parks. Whether the ASEAN bloc will take a united stance on some of the more contentious issues surrounding REDD+ such as market-based financing, the creation of offsets, and the scope of oversight and reporting regarding community and indigenous rights remains to be seen. Read more about ASEAN and REDD from the Bangkok Post .
Operationalizing Cancun and the $100B QuestionLast week 35 ministers and other high-ranking representatives convened in Berlin to try and light the way forward in UN climate change negotiations. At the top of the agenda was putting more elbow grease towards turning the Cancun Agreements into functioning climate policy and financing tools. High on this to-do list was addressing the financing gap likely to emerge after 2012, when the “fast-start” climate finance period (which has largely focused on capacity-building aid) ends. Clarifying the roadmap to the 2020 $100 billion annual financing goal also lined up with the discussion of launching a functional Green Climate Fund as a key goal of the Durban climate talks. The ministers believe progress toward the $100B goalpost should follow a transitional phase with a middle-ground “Plan B” option should the upcoming December negotiations fail to deliver an operational Fund. Read more about the Petersburg Climate Dialogue II from and see the co-chairs summary from the German Ministry of Environment website .
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