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English - pdf - 2145 Kb - Biosafety Information Centre

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'Cutting up the sky,' the Beehive CollectiveAs of October 2010, 705 biomass projects were eitherapproved or seeking approval for 45 million certified carboncredits under the CDM mechanism, with India (318 projects),China (101 projects) and Brazil (94 projects) taking thegreatest share. That amounts to 12.75% of all CDM projects,third only to wind and hydropower projects. 111 At currentprices, these credits would be worth around one-half billiondollars adding to the overall value of the biomass economy. 112Meanwhile an unregulated ‘voluntary’ carbon credit industryhas emerged outside of the Kyoto framework withentrepreneurial companies, such as Future Forests, linkingbiomass and bioenergy projects to new carbon credits thatcould be sold to individual consumers to ‘offset’ carbonintensivelifestyles. The World Bank estimates the carbontrade is currently worth $144 billion, with national andregional carbon trading exchanges in full swing in Europe,Asia and North America. 113Trading Biomass-based Carbon:Take II – getting REDD-y for a grabThe combination of the UNFCCC’s faulty accountingmethods and financing of bioenergy projects may already seemlike enough of an assault on biodiversity, but the sameinternational forum is about to add insult to injury byintroducing a third mechanism to commodify biomass. Theso-called REDD (“Reducing Emissions from Deforestationand Forest Degradation”) now under negotiation at theUNFCCC attempts to give forest biomass a financial valuebased on the carbon stored within it. The idea behind REDDis to back living carbon stored in forest biomass with financialsecurities that can be monetized and traded alongside existingfinancial commodities. Backers of REDD argue that this willprovide a market incentive to prevent logging anddeforestation. In making a currency out of biomass, REDDexacerbates the reduction of biodiversity to stocks ofcommodifiable carbon. While the forestry industry has beenaccused before of not seeing the forest for the trees, REDDcan’t even see the trees for the carbon stored inside them.The result of such reductionism is that the implementation ofREDD looks likely to harm both natural biodiversity and thecommunities that rely on it.Specifically, the UNFCCC’s Bali Action plan calls for “policyapproaches and positive incentives on issues relating toreducing emissions from deforestation and forest degradationin developing countries; and the role of conservation,sustainable management of forests and enhancement of forestcarbon stocks in developing countries.” When decoded thisso-called “REDD+” paragraph licenses the clearing oftraditional people from forests for ‘conservation’ purposes andsubsidises commercial logging operations that meet agreedupon“sustainable management” criteria. Moreover, by talkingof ‘enhancing forest carbon stocks,’ REDD+ looks set tofinancially reward the conversion of forest land to industrialtree plantations justified by claims that such plantations storemore carbon than what is currently growing. This has seriousimplications for biodiversity and local communities.Even before REDD is implemented and agreed, governments,corporations, large NGOs and global institutions areexperimenting with this form of biomass-based carbon financeand attempting to set up REDD-like schemes. According towatchdog REDD Monitor, The World Bank has approved 25projects under its Forest Carbon Partnership Facility and 3through its BioCarbon Fund, while UN-REDD (UNDP,UNEP and FAO) is running pilot projects in Bolivia,Democratic Republic of the Congo, Indonesia, Panama, PapuaNew Guinea, Paraguay,Tanzania, Viet Nam, andZambia, with promises of over$18 million. Governmentssuch as Norway, Australia andGermany have been pledgingmoney for REDD projects inthe South as have anincreasing number of privatecorporations. Organisationssuch as ConservationInternational, WWF, TheNature Conservancy andEnvironmental Defense Fundare partnering with corporationsincluding BP, Pacificorp, MerrillPhoto: Orin Langelle, GlobalJustice Ecology ProjectLynch and Marriott Hotels. Voluntary standards are alreadyspringing up to define what is ‘sustainable’ for REDD, andcarbon traders such as EcoSecurities and Caisse des Depots arepreparing to start commodifying and profiting from as muchof the world’s forest biomass as they can get their hands on. 114ETC Group 22 www.etcgroup.org

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