Billions Required To Make Deforestation Prevention A Reality
Roughly 15 percent of global emissions result from deforestation, and Nigeria, Indonesia and Brazil are a few of the largest offenders. Billions of dollars will have to be invested by REDD+ (Reducing Emissions from Deforestation and Degradation), a plan to end global deforestation by buying forest-based emissions reductions, to stop the destructive practice.
Without the acceptance of forest-based offsets, there lacks an incentive for participation in the program, and the REDD+’s plan would not take effect until 2020.
A report produced by the Global Canopy Programme, the Amazon Environmental Research Institute, Fauna & Flora International, and the United Nations Environment Program states, “There is currently no source of demand that will pay for medium to long-term emission reductions from REDD+ in the period between 2015 and 2020. This problem seriously threatens the successful implementation of REDD+, because without interim demand there will be little or no incentive for forest countries to participate and redirect resources towards REDD+, or for the private sector to invest.”
A 50 percent decrease of global forestation by 2020 would mean the emissions reduction market would become oversupplied, creating a forty-eight billion dollar shortfall. Donor country capital would have to be used to buy REDD+ emissions reductions. It would also create a stability that would help private investors feel certain about investing. Predictability could go a long way in the prevention of global warming.
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