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28 October 2011 | The big story around the water cooler this week is no doubt the final approval of California’s cap-and-trade regulations. After years of drawn out debates, legal challenges, and even a public referendum, California now seems set to launch the United States’ first comprehensive cap-and-trade scheme (knock on wood), and the first that will look toward international REDD+ credits in coming years.
With talk of potential links with from California to four Canadian provinces–British Columbia, Manitoba, Ontario and Quebec–as well as the EU Emissions Trading Scheme, supporters will be hoping that this new step forward will send a strong market signal and set an ambitious example for others to follow.
On the international front, the UN-REDD Programme has announced new funding for Nigeria’s national REDD+ program and also published draft social and environmental principles and criteria aimed at reducing social and environmental risks in implementing REDD+.
We’ve seen several new projects using the American Carbon Registry to reforest following a fire in Colorado and to connect family forest owners to healthcare in the Pacific Northwest. Add to this several new projects entering the VCS and CCB pipelines, and there’s surely no shortage of projects to keep your eyes on.
And following the concession heard round the forest carbon world, when Indonesia handed half the project area for the Rimba Raya project to a palm oil developer after years of consultation, the Ministry of Forestry now appears prepared to play nice, offering up millions of hectares of degraded forest lands in the country for ecosystem restoration concessions to include carbon projects.
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