Redd agreement expected in Cancun
A decision should be reached on reducing emissions from deforestation and degradation (Redd) at the Cancun summit despite difficulties in agreeing upon a larger treaty framework. This agreement would focus on Redd’s ability to avoid deforestation by improving carbon stocks through sustainable forest management.
Redd will be implemented in three phases. The first of which involves capacity building in forested nations by building up mechanisms to keep track of deforestation. The second phase focuses on creating national policies and creating initial pilot projects. Lastly, a financial system, perhaps a Redd carbon market, would be established for verification and monetization.
There is a good chance for progress on a Redd agreement at the Cancun summit, since most of the key players have been working together on the issue since the climate meeting in Bali. One goal for next month’s meeting is to create a database of Redd donors, which would assist in monitoring, reporting and verifying (MRV) national strategies, as they will be required before nations begin receiving payments.