Einde inhoudsopgave
Corporate Social Responsibility (IVOR nr. 77) 2010/13.3.5.2
13.3.5.2 REDD
Mr. T.E. Lambooy, datum 17-11-2010
- Datum
17-11-2010
- Auteur
Mr. T.E. Lambooy
- JCDI
JCDI:ADS365794:1
- Vakgebied(en)
Ondernemingsrecht (V)
Voetnoten
Voetnoten
G. Asner, Measuring Carbon Emissions from Tropical Deforestation: Overview, Department of Geological and Environmental Sciences, Stanford University, 2008, at: http://www.edf.org/documents/10333_Measuring_Carbon_Emissions_from_Tropical_Deforestation-An_ Overview.pdf, accessed on 3 March 2010.
REDD Monitor (NGO Networks news site). Its goal is to share information about the way REDD is developing. See: http://www.redd-monitor.org/redd-an-introduction/, accessed on 2 September 2009.
Supra note 115.
During the Climate Change Conference of 2007, the Bali Action Plan was drafted. In § 1b (iii), it refers to the advanced concept 'REDD+' and calls for 'policy approaches and positive incentives on issues relating to reducing emissions from deforestation and forest degradation in developing countries; and the role of conservation, sustainable management of forests and enhancement of forest carbon stocks in developing countries'. REDD+ activities include: conservation, sustainable management of forests and enhancement of forest carbon stocks. Available at: http://unfccc.int/meetings/cop_13/items/4049.php, accessed on 10 September 2009.
A Report for the Secretariat of the CBD: Challenges for a Business Case for High Biodiversity REDD Projects and Schemes,' Eco Securities Ltd., February 2009, p. 18.
The Copenhagen negotiations resulted in a 'Draft agreement of the Ad Hoc Working Group on Long-term Cooperative Action on reducing emissions from deforestation and degradation', 15 December 2009. Available at: http://www.carbonpositive.net/viewFile.aspx?Fi-leID=170, accessed on 1 February 2010. See also: 'Copenhagen Accord', preliminary agreement between China, US, India and South Africa, 18 December 2009. See: http://www.carbonpositive.net/viewfile.aspx?fileID=171, accessed on 1 February 2010.
Supra note 126.
Voluntary Carbon Standards, at: http://www.v-c-s.org/181108redd.html, accessed on 1 October 2009. EcoSecurities, a leading organisation in the business of sourcing and developing greenhouse gas emission reduction projects, Conservation International, The Climate, Community & Biodiversity Alliance, ClimateBiz and Norton Rose Group reported in their second annual 'forest carbon offsetting report 2010', which focuses on corporations' attitudes towards carbon offsets from forestry projects, that positive attitudes towards forest carbon offsets have significantly increased in the past year, especially in Europe (Dublin, 4
The other important initiative is the Green Development Mechanism (GDM) 2010 Initiative. The GDM is a new financial structure at the global level to generate sufficient long-term resource streams to motivate owners of biodiversity-rich areas to exploit the area in a way which favours long-term conservation. The GDM will serve as an offset fund, which finances biodiversity enhancing projects, with a specific focus on activities in developing countries. For more information see: http://www.earthmind.net/bbb/gdm.htm, accessed on 3 March 2010.
Forest News, Forest Carbon Markets Grows Despite REDD Barriers, 27 May 2009.
L. Ashford, J. Barker, C. Davey, N. Dikeman, J. Harris, R. Mountain, N. Thorubrn, N. Wheeland, Carbon Offsetting Trends Survey', 2008; K. Hamilton, M. Sjardin, T. Marcello, G. Xu, 'Forging a Frontier: State of the Voluntary. Carbon Markets', 2008, Ecosystem Marketplace & New Carbon Finance, 2009.
CCB standards evaluate land-based carbon mitigation projects in the early stages of development. For more information, see: http://www.climate-standards.org/standards/index.html, accessed on 2 September 2009.
Brazil's Juma Sustainable Development Reserve Project for REDD Implementation, Case Study: Forest Now. Org, November 2008, at: http://www.forestsnow.org/casestudies_full.php?csid=15, accessed on 2 October 2009.
Deforestation is another important source of carbon emissions.1 One of the mechanisms created to address deforestation, forest degradation and the associated emissions of greenhouse gasses, is REDD. The idea behind this concept is to generate carbon credits for maintaining existing forests. In this way, financial incentives will be provided to forest owners, companies or governments of developing countries for keeping their forests intact instead of logging them.
The REDD initiative was developed in 2005 by a group of States that named themselves the 'Coalition of Rainforest Nations'.2 Two years later, the idea of REDD was taken up at the Conference of the Parties (COP) to the UN Framework Convention on Climate Change (UNFCCC)3 in Bali, i.e. COP-13.4 The participants at the COP came to a consensus on a road-map that should eventually lead to a regulatory system for REDD. It was agreed to include forest conservation in the further discussions on climate change. The plan was to reach a REDD accord at the COP in Copenhagen in December 2009, i.e. COP 15, as a part of the larger post-Kyoto negotiations.5 However, Copenhagen was unsuccessful, and no agreement has been reached on a REDD framework.6 The proposed funding methods for REDD were: (i) carbon credits; (ii) a fund; or (iii) a mixture of both.7 The carbon emission trading potential of avoided deforestation credits depends very much on what a future REDD system will look like. In spite of not yet reaching a concrete international result, as explained above, REDD already has important implications for the regulatory and voluntary markets.
Currently, the sector of voluntary carbon emission credits from forestry projects is one the largest sectors in the voluntary markets. It amounted to 36 per cent of all voluntary market transactions in 20 06.8 There appears to be an interesting potential for voluntary markets in REDD because of the following reasons:
voluntary carbon emission offset markets will be an alternative for civil society and business if an international political agreement regarding REDD cannot be reached or will be substantively delayed;
voluntary markets serve as a crossing point between purely voluntary and pre-compliance carbon emission reduction efforts for companies that are moving towards regulatory caps, e.g. aviation companies in the EU; and
a development can be observed that a demand for conservation credits will be created by voluntary markets. Preserving forests would qualify for conservation credits (in addition to qualifying for carbon emission credits).9
In comparison to the situation five years ago, when forestry carbon emission credits were generated almost entirely from reforestation activity, there is evidence that the forestry sector is changing, particularly into REDD, but also to improved forest management practices.10 Market analysts stated that the buyers of the carbon credits on voluntary markets are willing to pay higher prices ifthere are co-benefits like biodiversity conservation.11 There are already examples of REDD projects that have been certified against the Climate, Community and Biodiversity Project Design Standards (CCB Standards).12 One of them is Juma Sustainable Development Reserve Project in the AmazonForest in Brazil.
Juma Sustainable Development Reserve in the Amazon Forest suffers from high deforestation caused by land conversion for agricultural practices and other economic activities. The Juma Sustainable Development Reserve Project aims to stop the deforestation. It is a landmark project which began in 2008 and is due to finish in 2050. The instrument used is the creation of financial mechanisms to generate carbon emission credits under REDD. The structure of the project is the following: (i) it is supervised by the Sustainable Amazon Foundation (Fundacao Amazonas Sustentavel), established in December 2007 by the Amazonas Government and the Brazilian Bradesco Bank; (ii) it is audited in accordance with the VCS by the German Tuv-Sud company; and (iii) the project received the guidance of the Climate, Community and Biodiversity Alliance (CCBA, i.e. the organisation that set the CCB standards). Finally, the resources generated by avoided carbon dioxide emissions through controlling deforestation will be invested in the Juma Sustainable Development Reserve. It is expected to boost sustainable economic activities in the region and to improve the livelihoods of indigenous inhabitants of Juma Sustainable Development Reserve and its surroundings.13 Concrete goals of the project are: (i) to generate carbon credits out of 189,767,027 tonnes of carbon emissions; and (ii) to avoid the degradation of 366,151 hectares of rainforest and hence the emission of 210,885,604 million tonnes of carbon dioxide into the atmosphere by 2050.