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FFI has teamed up with Australian investment bank Macquarie, to form a groundbreaking task force to invest in the management of tropical forests and generate carbon credits for sale.
The partnership has commenced evaluations for the protection of six forests at risk from deforestation, globally. The taskforce has engaged national and provincial authorities, as well as community groups in south east Asia, South America and Africa. At each site, the taskforce plans to work in partnership with local communities and governments to manage the preservation of the forests for the long term.
Macquarie Group will provide capital and financial services for the forest projects, ensure compliance with carbon standards and sell the carbon credits internationally. FFI will draw on its conservation experience to work with local governments and communities to implement the projects.
It is expected that carbon credits produced from the forests will be sold to commercial customers to offset the carbon emissions they produce. The six projects will meet leading international standards for carbon projects by demonstrating measurable and long-term carbon production.
Every year, 13 million hectares of the world’s forests are cleared. The International Panel on Climate Change Fourth Assessment Report has estimated that deforestation contributes 17 per cent of total global carbon emissions. This project aims to make a significant impact in reducing this number, through direct implementation, acting as a market leader and through sharing of best practice.
“Avoided Deforestation” is not recognised in mandatory carbon markets under the Kyoto Protocol, however voluntary market demand for high-grade validated carbon credits is increasingly high. Support is growing for the inclusion of avoided deforestation under the post-Kyoto framework through the United Nations Framework Convention on Climate Change with a new emissions reduction agreement due to take effect from 2012.
Australia is a world leader in sustainable land management and FFI is proud that this particular initiative has been enabled by our entry into the Australian environment arena. Our partnership with Humane Society International (HSI) has further increased our capacity in this sector and thanks are extended for their ongoing support.
Click here to read about the FFI/ Macquarie taskforce in the news
Help support this project - and many more - by donating to FFI Australia today.
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