Forests Offset Trading
The UNFCCC has for some time been contemplating the methodology of saving the native forests from extinction. As no mechanism current exists to provide certainty for the forests, the private sector has stepped up to participate.
Participation has come in the form of exchange based securities being offered to multinationals, companies and individuals. Exchanges such as the World Environment Exchange (WEX) and the Chicago Climate Exchange (CCX) provide forestry offset credits available to the market.
The benefits are positive, as even international bankers are participating in the process of saving huge tracts of forest against sophisticated financial models. Still in its early stages of development and awareness, the program and the joint participation of Governments, industry and commerce to save the forests is a step in the right direction.
UNEP/GRID-Arendal, Forests working for the global climate - Reducing Emissions from Deforestation in Developing Countries (REDD), UNEP/GRID-Arendal Maps and Graphics Library, http://maps.grida.no/go/graphic/forests-working-for-
the-global-climate-reducing-emissions-from-deforestation-
in-developing-countries
(Accessed 21 September 2008)
