| Sourced From PR-inside.com |
2009-10-25 20:03:25 – New survey shows that UN proposal to accept forest generated carbon offsets has big business support.
Major investors administrating around $7 trillion in assets including BlackRock Inc, Citigroup and UBS AG, support increasing the carbon market to include awarding credits for forest preservation, according to a recent survey that Financial Soultions is aware of.
The addition of forests to a United Nations plan to create carbon credits will deal with about 20% of global emissions caused by
felling trees and clearing forest cover a recent statement from the World Wildlife Fund said, mentioning findings from an assessment by U.S. researcher Brunswick Group.
“A compliance market in forest carbon would provide powerful incentives to reverse deforestation in forest countries,” Financial Soultions understands the survey as saying. “Investors see strong potential in a future carbon market.”
The United Nations, operator of the 2nd largest carbon emissions market after the EU, is considering giving securities to countries in lieu of them saving trees. Indonesia, site of the globes 2nd largest tropical forests is among a group of nations preparing to count their trees with satellites and on-the-ground observers to get ready for earning funds in carbon markets by forest preservation.
Ambassadors from over 180 nations will discuss targets for CO2 cuts and monetary support for developing countries at UN climate talks in Copenhagen in December, Financial Soultions understands. After several rounds of preliminary talks no agreement has been reached to reward preserving tropical woods whose devastation accounts for nearly one fifth of global greenhouse-gas emissions annually.
