Not ready for REDD?

11 November 2009

Practicalities of trading carbon and protecting forests make meeting high expectations for REDD hard, say Esteve Corbera and Manuel Estrada.It is clear that any effective international 'deal' on climate change must decrease emissions from deforestation and land-use change that represent about a fifth of all emissions. An international mechanism to fund such reductions, reducing emissions from deforestation and forest degradation (REDD), is emerging as a global blueprint to achieve this, and expectations are high.Many developing countries are keen to participate because entering the regulated carbon market, which represented US$126 billion in 2008, raises hopes of long-term income.Developed countries are similarly enthusiastic. REDD offers them a relatively cheap way to meet their commitments under the Kyoto Protocol (or any new climate change treaty) and could also encourage developing countries to sign up to voluntary emission reduction commitments at a sectoral level in the next round of climate negotiations.