Subscribe to our free daily newsletters
. Earth Science News .

Subscribe to our free daily newsletters

Brazil sees carbon market saving Amazon

by Staff Writers
Manaus, Brazil (AFP) Nov 7, 2008
Growing concern over climate change, and the potential of the carbon credit market, could give the Amazon forest a financial value rivaling the lucrative activities that are eating it away, Brazilian officials believe.

The Amazon -- the biggest zone of tropical woodland on the planet -- is already home to the Juma reserve, an area of half a million hectares that has become the first project in Brazil to achieve international certification for reducing greenhouse gas emissions by averting deforestation.

The government in Amazonas state want to replicate that model over 34 other reserves it manages, and it wants to use financing from the carbon market to help preserve the forest and improve the lives of people living within it.

"We will be a big player in the carbon market," said Virgilio Viana, director of the Sustainable Amazonas Foundation running the reserves.

Brazilian President Luiz Inacio Lula da Silva in August launched an international Amazon Fund, which has already attracted a one-billion-dollar donation pledge from Norway's government up to 2015.

The carbon credits scheme resulted from the Kyoto accord, which came into force three years ago. It opened the way to monetize the shortfall in greenhouse emissions targets and have them traded on a world market.

But it does not acknowledge the reduction of emissions from deforestation of tropical forests in developing countries.

Brazil, the fourth-biggest producer of greenhouse gases in the world, mostly from deforestation, wants its fight to preserve its five million square kilometers of Amazon forest to be recognized as a service against global warming.

It argues that its efforts should be rewarded with financial input from other countries which would go to helping poor Amazon populations that might otherwise turn to cutting down trees.

Extra cash would contribute to slowing the alarming rate of Amazon forest devastation, which each year amounts to more than 10,000 square kilometers of razed land, it says.

Although the carbon credits scheme does not take into account forest conservation projects, there is a small but growing voluntary market made up of companies and organizations that want to offset their carbon footprints by investing in such environmental projects -- and, they hope, reap a public relations coup in doing so.

That is the case, for instance, with the Marriott Hotel group, which is involved in the Juma reserve. It asks guests staying in its chain to contribute a small amount of money for their greenhouse gas output, which goes to help the Juma conservation efforts.

But the Brazilian government wants a systematic approach and is seeking the post-Kyoto UN convention on climate change to consider those initiatives.

"We can't shut our eyes to the reality: forests have an important role in climate regulation and this has been noted in the past year by the UN in its negotiations," said Fernanda M¿ller, a researcher with the CarbonoBrasil group.

Maurik Jehee, the official in charge of carbon credits at Brazil's Banco Real bank, said: "The potential of the carbon credits market for reforestation and against deforestation projects is huge, but it depends so much on international negotiations."

Even though international certifications for verifying carbon-dioxide reductions in forest projects have greatly improved, they are still recent and "buyers are still cautious" over the perceived risk they hold, said Stefano Merlin, president of the Social Carbon Company. His firm created a certificate for carbon projects that provide social benefits.

A director for Greenpeace Brazil, Sergio Leitao, observed other obstacles to Brazil's ambitions.

Brazil's government had to overcome its reluctance to accept quantifiable targets to reduce deforestation if it wanted to attract donors, he said.

He also stressed the Amazon must not become a "cheap" option for the world's big polluters looking for an easy way to offset their greenhouse gas emissions.

Share This Article With Planet Earth DiggDigg RedditReddit
YahooMyWebYahooMyWeb GoogleGoogle FacebookFacebook

Related Links
Forestry News - Global and Local News, Science and Application

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Charles presents forest plan to Indonesian president
Jakarta (AFP) Nov 3, 2008
Britain's Prince Charles met Indonesian President Susilo Bambang Yudhoyono here Monday and presented his ideas for saving the world's rainforests, officials said.

  • Flood-hit Vietnam capital moves to contain disease outbreaks
  • China rebuilds six months after quake, amid frustrations
  • Simulated Seismic Signals Could Help Save Lives
  • Death toll in southwest China rain rises to 43: state media

  • Financial crisis puts heat on Australian govt over climate plan
  • Africa left behind in Kyoto carbon offset trade: experts
  • Current warming sharpest climate change in 5,000 years: study
  • Canada to offer Obama continental climate change pact

  • New NASA Technique Measuring Glacier Driven Sea Level Changes
  • Paloma Still Intensifying And Turning Northward
  • CHRIS Satellite Imager Celebrates 7 Years Scientific Success
  • ISRO's New Satellite Could See Through Even Cloudy Sky

  • Southwall's Heat Mirror Insulating Glass
  • Fuels Of The Future May Come From Ice That Burns, Water And Sunshine
  • Six navy personnel killed in Nigeria gun battle
  • World oil prices up on OPEC chief's remarks, China stimulus plans

  • AIDS vaccines: New hope for problem-plagued path
  • Death By Hyperdisease
  • Experimental HIV vaccine may have increased infection risk: study
  • Seeing Life In Viruses

  • Coral Reefs Found Growing In Cold, Deep Ocean
  • Jogger runs mile with rabid fox locked to arm
  • Climate change pushing lemmings over the edge: study
  • India leads world in snake-bite deaths

  • White House defends last-minute deregulation push
  • Smelly effluent mars affluent Dubai's beaches
  • Study: Biosolids pose little worker risk
  • China struggling to meet environment goals: official

  • China's media workers not in good physical shape: report
  • Scientists compare human, chimp genetics
  • World's tallest man riding high after becoming a dad
  • Ancient Bone Tool Sheds Light On Prehistoric Midwest

  • The content herein, unless otherwise known to be public domain, are Copyright 1995-2007 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement