Earth Equity News

Saving the Amazon May be the Most Cost-Effective Way to Cut Emissions. By Margot Roosevelt, LATimes, February 21, 2010. "Governors of the Brazilian Amazon's nine states are pushing the U.S. and other industrial nations to invest in projects under rules known as REDD -- or Reducing Emissions from Deforestation and Degradation -- that are being designed through the auspices of the United Nations. Under pending legislation to cap greenhouse gases, the U.S. government would auction emission allowances, funneling as much as $3 billion from the annual proceeds into rain forest protection. U.S. companies facing carbon controls could meet part of their obligations by investing as much as $13 billion a year by 2020 to preserve forests.

"And several Amazon governors have signed agreements with California Gov. Arnold Schwarzenegger to measure the carbon in their forests with the goal of selling carbon credits in California's cap-and-trade market, set to begin in 2012. The program would allow California businesses to use the credits to meet their emission caps, and thus funnel several hundred million dollars a year into tropical forest protection. The reason? Slash-and-burn deforestation accounts for about 15% of humanity's carbon dioxide emissions. Despite activists' efforts, forests have been disappearing at the rate of about 34 million acres a year for the last two decades. Globally, Indonesia and Brazil are the third- and fourth-largest emitters respectively of greenhouse gases, after China and the U.S., because of their breakneck pace of forest destruction.

"Saving the Amazon, Earth's largest tropical jungle, can be a cheaper and faster way to avoid greenhouse gas emissions than replacing coal-fired power plants with renewable energy or switching to electric cars -- although all such measures are considered necessary by climate experts. President Obama acknowledged as much last fall. 'It is probably the most cost-effective way for us to address the issue of climate change, having . . . mechanisms in place to avoid further deforestation,' he said. Despite the failure to adopt a long-term climate treaty in Copenhagen last year, the U.S., along with Australia, Britain, France, Japan and Norway, promised $3.5 billion in fast-start funds to help preserve tropical forests. But if nations across Latin America, Africa and Asia are to guard their trees, they must first alleviate the poverty of 1.2 billion people who depend on forests for their livelihoods. Many of these developing nations, struggling economically, bristle at preaching from wealthier countries." See Amazon graphic and slide show.