Deforestation and forest degradation, through agricultural expansion, conversion to pastureland, infrastructure development, destructive logging, fires etc., account for nearly 20% of global anthropogenic CO2 emissions. This is more than the entire global transportation sector and second only to the energy sector. It is now clear that in order to constrain the impacts of climate change within limits that society will reasonably be able to tolerate, the global average temperatures must be stabilized within two degrees Celsius. This will be practically impossible to achieve without reducing emissions from deforestation and forest degradation, in addition to other mitigation actions.
For REDD+ to become successful, the mechanism should deliver multiple benefits besides carbon. These include ‘ecosystem-based benefits’ such as conservation of forest biodiversity, water regulation, soil conservation, certified timber, forest foods and other non-timber forest products. It is further intended that such activities will also lead to direct social benefits, such as jobs, improved livelihoods, land tenure clarification, carbon payments, enhanced participation in decision-making and improved governance.
Consequently Eneco is interested in engaging in REDD+ early action projects to support this new mechanism and help ensure that REDD+ is properly implemented so as to create high quality, environmentally additional and socially robust projects.
Mark Meyrick, head of Eneco’s Carbon Desk commented: “I am proud to be part of this initiative and to work for a company which seeks to actively engage in a sector which is vitally important in both the fight against climate change, and the preservation of this planet’s rich biodiversity. I sincerely hope that our initiative will encourage other carbon market players to engage in this sector.”
Eneco began working with the REDD mechanism in 2010 and subsequently developed a Code of Conduct with the International Union for the Conservation of Nature and the World Wildlife Fund to encourage “best practice” for private sector engagement in REDD+ for both voluntary as well as for potential future compliance markets.
Eneco has supported the Kasigau Corridor REDD+ project by purchasing the first 50,000 issued credits from the project because it is a model project demonstrating that REDD+ can work and achieve not only carbon but also livelihood and biodiversity benefits.
About Eneco Energy Trade
Eneco is a Dutch energy company with an exceptional track record in sustainable energy production and in global carbon markets. We purchase and market carbon credits: EUAs, CERs, ERUs and VERs. We provide project development services and financing arrangements for project owners, project developers and carbon aggregators.
The challenge of human induced climate change must be met with strategic adaptation as well as innovative mitigation solutions. Eneco is committed to mitigation through market based mechanisms, leveraging the global capital markets to finance clean energy solutions to the problem of global warming.
Visit our website at www.eneCO2.com