A sustainable agriculture project in the Nyanza and Western Provinces in Kenya became the first to market offsets from carbon sequestered in soils, with financing flowing to smallholders. But elsewhere in Kenya, in the Embobut forest, the Sengwer people are being evicted from their homes.
This article was originally published in the Forest Carbon newsletter. Click here to read the original.
30 January 2014 | It’s only January, but 2014 has already seen much development on the forest carbon front, with a
The World Bank’s BioCarbon Fund (BCF) has committed to purchasing 150,000 tonnes of emissions reductions, estimated at $600,000, generated by the project between 2009 and 2016. Carbon-centric cropland management practices such as cover crops, rotation, mulching, and green manure can also help increase agricultural yields by 15-20%, according to the World Bank.
“This proves, yet again, that good environmental practices make good business practices, and in this case they are making for good farming practices which have tremendous ancillary benefits,” said David Antonioli, VCS Chief Executive Officer.
However, it’s not all good news from Kenya. From the Embobut forest, organizations such as the Forest Peoples Programme are reporting that 150 police and forest guards have been orchestrating a forced eviction of the Sengwer people, burning as many as 1,000 homes this month. The Sengwer are nonsensically blamed for threatening urban water supplies, though the ‘fortress conservation’ approach has been denounced by the international community as both unjust and ineffective.
On the policy front,
Other compliance markets are not doing so hot. Facing a repeal of Australia’s carbon tax, Andrew Grant, the head of the largest carbon project developer in the country, resigned last week. CO2 Group mainly developed forestry offsets, but without a market-based carbon reduction policy, demand has been, well, non-existent: “We haven’t had any investment interest in 18 months,” Grant told Reuters in October.
And in Europe, a recent proposal to ban the use of Clean Development Mechanism (CDM) credits in the European Union’s Emissions Trading Scheme (EU ETS) unless climate negotiators reach an international agreement in 2015 sets an ultimatum for an already crushed market.
However, it’s unlikely the proposal will have a large impact on the forest carbon market. The EU ETS never allowed many types of forestry credits anyway, and the BCF, the major buyer of the only eligible forestry offsets – CDM afforestation/reforestation – has backed off of those purchases. Ecosystem Marketplace’s
These and other stories from the forest carbon marketplace are summarized below, so keep reading!
Here at Ecosystem Marketplace, we’re getting ready to begin data collection for our 2014 State of the Voluntary Carbon Markets and State of the Forest Carbon Markets reports, and we’ll also be launching a revamped survey of clean cookstoves projects in collaboration with the
We look forward to again providing reliable and transparent market information in the New Year, with many thanks going to those organizations that support our research. Most recently, this includes
—The Ecosystem Marketplace Team
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