As debates on market-based instruments continue, forests continue to be lost
Endless debate of ‘market-based’ instruments are stalling real progress.
A few years ago, “carbon cowboys” arrived in the forests of Papua New Guinea and announced to the perplexed Papuans that rich countries would soon pay for the carbon stored in their forests in order to fight against climate change. Today this example seems almost of another era, as forest carbon markets through the Reducing Emissions from Deforestation and forest Degradation (REDD+) mechanism appear moribund.
Millions of hectares of natural tropical forests continue to disappear each year, and other market-based instruments are emerging regularly. How will we analyze such instruments? Have we learned the right lessons?
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