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Reducing Emissions from Deforestation and forest Degradation and the role of conservation, sustainable management of forests and enhancement of forest carbon stocks in developing countries

TODAY’S SBSTA (Subsidiary Body for Scientific and Technological Advice):

·         New text due by 1 PM today (further report to come)

·         Closing plenary

Time: 16:30 – 19:30

Background: Late into Friday evening:

1.  Brazil lined up against international reporting of how safeguards (social, governance and environmental) in REDD will be addressed and respected.

2. Various countries lined up against truthful reference levels for measurement of forest emissions by which payments for reducing emissions in the future will be made through REDD.

Outlook: Without a robust international reporting system, and accurate, truthful measurement of greenhouse gas emissions from deforestation and forest degradation, there will be no investor confidence in REDD.

Result: Money will not be invested to stop deforestation in developing countries.

Quote from Nils Hermann Ranum, Rainforest Foundation Norway: Brazil is very selfish to block progress on REDD.  Tropical countries rely on financial support to reduce deforestation. The consequence of Brazil’s behavior will be REDD that is not credible and will not obtain sufficient funding

Quote from Peg Putt, Ecosystems Climate Alliance: Countries have abandoned accounting for what’s real in forests and being rewarded for doing better. This is a fundamental issue for investors.