Baker & MacKenzie | ecoplanet bamboo | JP Morgan Chase | NewForests
[Ecosystem Marketplace] Though demand for forest carbon offsets grew 17% in 2013, market participants recognize the need to scale up faster in order to curb emissions from deforestation and land-use change. Attendees at Ecosystem Marketplace’s launch of the State of the Forest Carbon Markets 2014 at the World Bank last Friday discussed the policy developments that could guide growth – and how the certification of co-benefits could shape demand.
Much of the discussion during next month’s international climate negotiations in Lima, Peru will revolve around halting tropical forest loss to reduce global greenhouse gas (GHG) emissions. But Ecosystem Marketplace’s latest report on the voluntary and compliance markets shows forest carbon projects already having an impact – an impact that could multiply if the right policy signals are sent.
The global markets for offsets from agriculture, forestry, and other land-use projects transacted 32.7 million tonnes (MtCO2e) in 2013, a 17% increase from 2012 and tying with 2010 for the highest demand tracked by Ecosystem Marketplace as part of its State of the Forest Carbon Markets report series.
The forest carbon market surpassed a critical milestone last year by topping $1 billion in cumulative value…