EcoSecurities: Forest carbon offsetting report 2010

External Reference/Copyright

Issue date:

May 4, 2010

Publisher Name:

PR Newswire

Publisher-Link:

http://www.prnewswire.co.uk

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http://www.prnewswire.co.uk/cgi/news/release?id=285699 [1]

PDF [2]

What we can do for you... [3]
What we can do for you... [4]
What we can do for you... [5]
What we can do for you... [6]
FLEGT - a short reflection [7]
FLEGT - what is the EU fighting indeed? [8]

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DUBLIN, May 4, 2010 /PRNewswire/ -- EcoSecurities, a leading organisation in the business of sourcing and developing greenhouse gas emission reduction projects, Conservation International, The Climate, Community & Biodiversity Alliance, ClimateBiz and Norton Rose Group announce the findings of their second annual 'forest carbon offsetting report 2010', which focuses on corporations' attitudes towards carbon offsets from forestry projects.

The survey received responses from 207 organisations. Specifically, 157 responses from global, multinational and regional companies covering a diverse range of sectors and industries, and 50 responses from specialised carbon companies. Highlights of the research include:

Positive attitudes towards forest carbon offsetting have increased in the past year, with nearly 80% of respondents having a ‘positive’ or ‘very positive’ attitude compared to only 58% in 2009;
In particular, the most significant change in attitude was from Europe where 84% of participants claim to have a ‘positive’ or ‘very positive’ attitude compared to 36% in 2009;
Participants highlighted the most important factor when purchasing forest carbon offsets are carbon standards (89%), closely followed by project location (84%), project type (80%) and the projects’ ability to generate additional community and biodiversity benefits (83% & 77% respectively);
Reforestation with native species (89%) and avoided deforestation (78%) were rated the most desirable types of forestry project;
South America (74%) was the most sought-after region from which to purchase forest carbon credits;
The Voluntary Carbon Standard (VCS) and Climate, Community & Biodiversity (CCB) Standards were the two most popular carbon standards (73% and 64% respectively).

"Forestry promises to be a powerful and cost-effective tool in the fight against climate change," said ClimateBiz Managing Editor, Matthew Wheeland. "Corporate offset buyers recognise this potential, and show little sign of declining enthusiasm for forestry, despite the regulatory uncertainty."

Paul Kelly, CEO of EcoSecurities, commented, "Forestry has always been at the centre of international climate change negotiations. It's hugely encouraging to see that despite the lack of clarity which still surrounds impending regulation the majority of survey respondents have a very positive attitude to forestry and are actively seeking ways to reduce GHGs and mitigate climate change through forest carbon offsets."

Andrew Hedges, Partner, Norton Rose Group, commented, "Many of these findings accord with our experience of what is happening on the ground with early stage investment in this important sector, particularly the emergence of VCS and CCBA as the preferred combination of standards."

"The latest forest carbon offset survey shows encouraging support for carbon forestry projects in general and projects that factor in the value of biodiversity and communities into that project equation specifically," said Dr. Joanna Durbin, Director of the Climate, Community and Biodiversity Alliance. "Companies increasingly recognise that forest carbon can be a key component of their climate change commitment and are developing a clear understanding of the elements of quality and standards that they seek in terms of social and environmental performance, as well as robust carbon accounting."

For a full version of the Forest Carbon Offsetting Survey 2010, please visit this site... [9]

EcoSecurities: Forest carbon offsetting report 2010

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