Most Companies Rate Avoided Deforestation....

20 April 2009, 12:59pm

90% of Companies Rate Avoided Deforestation as Most Desirable Forestry Project

EcoSecurities, a leading company in the business of sourcing, developing and trading emission reductions from greenhouse gas abatement projects, Conservation International, The Climate, Community & Biodiversity Alliance and ClimateBiz, announce the findings of their ‘Forest Carbon Offsetting Survey 2009’, one of the first research studies to focus on corporate attitudes concerning carbon offsets from forestry projects.

Highlights of the research, which sampled 120 global, multinational and regional organisations, and 21 carbon companies, included:

- Avoided deforestation (91%) and reforestation with native tree species (89%) were rated the most desirable forestry projects in relation to carbon results;

- South America (78%), Africa (71%) and South East Asia (69%) are the three most desirable regions from which to purchase forest carbon credits;

- The Clean Development Mechanism (64%) and the Voluntary Carbon Standard (60%) were rated as the most desirable standards when purchasing forest carbon offsets;

- Participants highlighted the most important factor when purchasing forest offsets are carbon standards (91%), closely followed by experience and credibility of the project developer (87%);

- In comparison to Europe (19%), companies in North America (50%) are much more willing to pay up front for carbon credits that will be generated in more than five years time;

- Benefits to local communities and the environment (88%) and the global scale of the problem (77%) have been the key motivational factors for adopting offsets from forest carbon projects.

Pedro Moura Costa, President of EcoSecurities, commented, “With the US significantly increasing its focus on climate change and the UN COP15 negotiations taking place at end of 2009 this is an extremely important year for forestry. It’s tremendously encouraging to see that companies are starting to recognise the benefits from forestry projects, not only in terms of the robustness of the carbon offsets, but also in creating sustainable co-benefits and helping to reduce the problem of climate change and deforestation.”

“A growing number of offset buyers recognise the significant role forestry can play in reducing global greenhouse gas emissions while also delivering community and ecosystem benefits,” said Matthew Wheeland, Managing Editor of ClimateBiz. “The importance buyers place on carbon standards and project developer track records, however, shows forestry offsets must meet strict additionality and permanence criteria to prove they work.”

“This survey demonstrates the growing understanding among offset buyers of the potential of forestry activities to generate high-quality, cost-effective emissions reductions while at the same time providing additional advantages like conserving species and supporting local communities,” said Joanna Durbin, Director of Climate Community and Biodiversity Alliance. “I believe the survey findings underscore the important role that the Climate Community and Biodiversity (CCB) Standards play alongside rigorous carbon accounting standards like VCS, helping project developers and offset buyers to identify high quality carbon projects that improve the well-being of local communities and conserve habitats.”

The survey received 141 responses from a mix of global, multinational and regional companies, covering a diverse range of sectors and industries. It provides significant insight into companies’ perceptions of forest carbon offsets and the forestry sector. Support for this research initiative was provided from a number of organisations which include: 2Degrees, Akin Gump Strauss Hauer & Feld LLP, Borealis Offsets, CleanTech.org, GreenBiz, The Karo Group and Westgate.

www.ecosecurities.com

Forest Carbon Offsetting Survey 2009 - Full version

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