The growth of the forest carbon market in 2009, despite the recession!
September 6, 2010 § Leave a comment
One of the key influences for protecting our rainforests today and in the near future is the successful growth of the forest carbon market. As it puts a clear financial structure in place for industries to pay for the protection of rainforest and the environmental services they provide globally.
From 2007 through the first half of 2009 alone, forest carbon markets have funneled roughly $100 million into forestry conservation projects around the world, transacting 20.8 million MtCO2 in the process. In dollar terms, this period represents 67% of the market value of all forest carbon offsets, due to higher volumes and prices associated with emerging interest in the voluntary carbon markets overall, along with maturing standards and infrastructure.
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The forest carbon market is now two decades old but the bulk of its 20-million-tonne contribution to carbon sequestration and emissions reduction has come in the last three years – despite the global financial crisis and recession. This picture emerges from the ‘State of the Forest Carbon Markets’ report released by Ecosystem Marketplace (ESM). Its landmark report appears the best attempt yet at a comprehensive estimate of the volumes and value in the forest carbon sector worldwide.
State of the Forest Carbon Markets 2009 report