Brazil has proposed a new way of providing incentives to developing
nations to prevent deforestation. The government wants an international
loan fund set up that is tied specifically to action to prevent native
forests being cut down.
The proposal is an alternative mechanism
to that suggested by the Coalition of Rainforest Nations (CRN) led by
Papua-New Guinea and Costa Rica which would see the system of carbon
offset credits extended to avoided deforestation. Currently international carbon credit schemes such as Kyoto's
CDM only allow credits for reforestation of cleared land and afforestation of land never forested.
Brazil
opposes the CRN proposal saying it would lead to fossil fuel companies
soaking up all the available credits and thus allow them to avoid
reducing their own greenhouse gas emissions.
Deforestation is
responsible for up to 20 per cent of the human-induced increase in
greenhouse emissions because most felled trees ultimately see their
stored carbon released into the atmosphere.
Brazilian
Environment Minister Marina Silva says the new proposal would be taken
to upcoming global climate talks later this year. It would require
countries to meet targets to reduce deforestation rates below 1990s
levels in order to earn access to loan funds.
Reuters 1/9/06