8 December2011
FOR IMMEDIATERELEASE
PRESS RELEASE: Durban” South Africa(UNFCCC)
Recent collapses in carbon markets and widespreadopposition from forest peoples and non-governmental organisations have notstopped governments gathered in Durban from trying to build momentum for thecreation of a new forest carbon market as part of the response to deforestationand climate change.
The Accra Caucus on Forests and Climate Change”a coalition of around 100 civil society and indigenous peoples organisationsfrom 38 countries” called on governments in Durban to reject forest carbontrading after a new draft decision [1] related to REDD (Reducing Emissions fromDeforestation and forest Degradation) specifically included “market-based”sources of financing” which opens the door for as forest carbon market allowingdeveloped countries to ‘offset’ emissions reductions.
“By selling carbon offsets from our forests” wewould be abandoning the solution to the climate crisis”” said Cecile Ndjebet”President of the African Women’s Network for Community Management of Forests. “Developedcountries have the historical responsibility for climate change and tradingcarbon forest offsets would shift the burden to developing countries” and wouldprolong the heavily-polluting industries that created the problem”.
At the same time” existing carbon markets arein a state of crisis. The carbon price in Europe is at its lowest in almost 3years [2]” and credits traded in the Clean Development Mechanism under theKyoto Protocol have fallen to an all time low [3]” unable to cover basicproject costs. “We’ve seen financial markets crash in recent years” and aforest carbon market would also be volatile and liable to boom and bust” still richgovernments insist this is the best way to finance forests” said Nat Dyer of RainforestFoundation UK “Forest carbon markets are an extremely inefficient way to getmoney to where it’s really needed. The largest part is captured by carbontraders and by expensive external consultants.”
“Any decision in Durban that opens the door tothe 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 FundacionPachamama in Ecuador. “Agreeing to fund forests from carbon trading gives theillusion there is money being offered for forest protection” when what isreally needed is from predictable and sustainable investment to combat thedrivers of deforestation.”
Contacts in Durban:
KateDooley” FERN” Brussels: +27 (0) 714115194″ [email protected]
MonicaLopez Baltodano” Centro Humboldt” Nicaragua: +27 (0) 820097621″ [email protected]
CecileNdjebet” REFACOF” Cameroon: [email protected]
YuyanIndradi” Greenpeace Indonesia: [email protected]
Notes toeditors:
1. Work ofthe AWG-LCA Contact Group” Agenda item 3.2.3. Version 2 December 2011″ @ 09.35
2. EuropeanUnion carbon permits (EUAs) fell more than 3 percent early on Thursday December 7th” trading at7.09 euros a tonne. 3. Prices for UN Certified Emission Reductions” or CERs”forDecember delivery settled at 5.03 euros ($6.52) a metric ton on the ICE FuturesEurope exchange on December 6 2011″ the second-lowest closing price since theybegan trading in 2008. CER credits have lost 80 percent from their peak of 25euros in July 2008 and down about 56 percent this year.