Greenpeace has launched what it calls a “landmark” carbon proposal aimed at ultimately stopping tropical deforestation.
The group, which presented the idea at a side event at the UN Climate Change Conference in Bali, said the proposal could raise several billion US dollars a year to finance urgent action to cut emissions from deforestation.
“The proposal would allow industrialised countries like Britain to meet a percentage of their emissions reduction targets through the purchase of units from the scheme,” Greenpeace said.
“Proceeds from the sale of these units would be used to transfer resources between rich countries and poor ones to prevent deforestation.”
The Tropical Deforestation Emission Reduction Mechanism (TDERM) would be a new unit for use in the Kyoto carbon credit trading system.
Earlier this year, governors of the Papua provinces called for support from the international community to help reduce deforestation through carbon financing mechanisms and transfer of technology.
