Citola Blog
Deforestation, REDD and COP16
At the Oslo Climate and Forest Conference in Norway in May, 2010 some 50 developed and developing countries concluded an agreement to take “immediate action” to reduce greenhouse gas emissions from deforestation. The “REDD+ Partnership” (Reducing Emissions from Deforestation and Forest Degradation) is an important step in international climate policy with ~ USD $4 billion pledged for the period 2010–2012 for measures to reduce greenhouse gas emissions from deforestation and forest degradation in developing countries.
Prime Minister Stoltenberg at the Oslo Climate and Forest Conference said: “Measures to reduce deforestation are the quickest and least expensive way of achieving large emission cuts. At [the Oslo] meeting, around 50 countries agreed on a framework for the rapid implementation of measures for reducing deforestation. This could be an important step forward in the run-up to the climate negotiations in Mexico later this year.”
COP16 is the 2010 United Nations Climate Change Conference that will be held in Cancún, Mexico, from 29 November 2010 to 10 December 2010. The conference is officially referred to as the 16th session of the Conference of the Parties (COP 16) to the United Nations Framework Convention on Climate Change (UNFCCC).
Progress on REDD is one reason to feel optimistic about COP16 with Brazil's ambassador for climate change, Sergio Serra, saying ‘REDD forestry talks’ have been progressing well. Avoided deforestation and REDD policy is a topic very relevant to Brazil and the conservation of the Amazon rainforest. For Sergio Serra, financing and getting money into climate initiatives including REDD is the key:
"Most important is the financing. The fast-track financing, which is a very positive development, is on three years [2010-2012] – one of those years is already here. It will be a very interesting step towards rebuilding confidence, if we have a commitment on fast-track financing. Some countries say the [proposed deal] is unambitious, the $30bn over three years. It won't save climate change in developing countries but it's a good start, especially for adaptation. By 2020, financing is expected to be $100-200bn a year.”
We will have to wait to see the actual progress that is made at COP16 , however, at Citola we will be pushing forward with opportunities. As was stated at the Australia Carbon Expo by Odin Knudsen, Strategic advisory and business development of JP Morgan, and others: “Future winners will be first movers”.
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