11 July 2014
SERUYAN, Indonesia (Thomson Reuters Foundation) - As U.N. climate talks inch towards creating a government-backed market for forest carbon credits, some private investors say it can’t happen soon enough, as they seek companies and other buyers to suck up their offsets.
“Lack of a (global) market is the problem. We rely on the voluntary market. We don’t need the price to be high, but right now there aren’t enough buyers,” said Jim Procanik, managing director of InfiniteEARTH, the company that started Indonesia’s Rimba Raya Biodiversity Reserve. So far, it is the only forest conservation project in the Southeast Asian nation to sell carbon credits.
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