Opportunities for forest finance under the International climate change regime

Maguire, R. (2010) Opportunities for forest finance under the International climate change regime. In Proceedings of the 18th Commonwealth Forestry Conference, In Conference Ltd. , Edinburgh, Scotland, pp. 1-13.

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The international climate change regime has the potential to increase revenue available for forest restoration projects in Commonwealth nations. There are three mechanisms which could be used to fund forest projects aimed at forest conservation, forest restoration and sustainable forest management. The first forest funding opportunity arises under the clean development mechanism, a flexibility mechanism of the Kyoto Protocol. The clean development mechanism allows Annex I parties (industrialised nations) to invest in emission reduction activities in non-Annex 1 (developing countries) and the establishment of forest sinks is an eligible clean development mechanism activity. Secondly, parties to the Kyoto Protocol are able to include sustainable forest management activities in their national carbon accounting. The international rules concerning this are called the Land-Use, Land-Use Change and Forestry Guidelines. Thirdly, it is anticipated that at the upcoming Copenhagen negotiations that a Reduced Emissions from Deforestation and Degradation (REDD) instrument will be created. This will provide a direct funding mechanism for those developing countries with tropical forests. Payments made under a REDD arrangement will be based upon the developing country with tropical forest cover agreeing to protect and conserve a designated forest estate. These three funding options available under the international climate change regime demonstrate that there is potential for forest finance within the regime. These opportunities are however hindered by a number of technical and policy barriers which prevent the ability of the regime to significantly increase funding for forest projects. There are two types of carbon markets, compliance carbon markets (Kyoto based) and voluntary carbon markets. Voluntary carbon markets are more flexible then compliance markets and as such offer potential to increase revenue available for sustainable forest projects.

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ID Code: 57941
Item Type: Conference Paper
Refereed: No
Additional URLs:
Keywords: Forest, Carbon, Market, Compliance, Voluntary
Subjects: Australian and New Zealand Standard Research Classification > LAW AND LEGAL STUDIES (180000) > LAW (180100) > Environmental and Natural Resources Law (180111)
Divisions: Current > QUT Faculties and Divisions > Faculty of Law
Copyright Owner: Copyright 2010 Please consult the author.
Deposited On: 07 Mar 2013 22:38
Last Modified: 22 May 2013 23:06

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