Earth (TGW) - Plan to fight deforestation could be so successful 'it will create such large emissions reductions that carbon markets could collapse unless rich nations take on more stringent reductions targets.'
So warns an architect of the recent deforestation deal made at the Bali climate conference.
Destruction of forests accounts for about 20% of anthropogenic carbon dioxide emissions.
The plan produced at the conference, though yet to be formally approved, would give carbon credits for planting trees to developing countries or to developed countries assisting developing countries.
But Kevin Conrad, executive director of the Coalition for Rainforest Nations and Papua New Guinea's climate change envoy, believes that the framework would flood the market with too many carbon credits.
"We are not going to flood the market and then drop prices for everybody and not be able to overcome any of the opportunity costs…The only way that we are going to bring in new supplies is if there are deeper cuts (for rich nations)," he said.
Via :: Reuters