Cancun Climate Negotiations

The carbon market dream: millions of offsets from land-use “sinks”

Carbon traders and high emitting Parties would like all land-use to count as carbon sinks to offset sources, delay reducing emissions and make money for carbon markets. There is more than one route to this goal: REDD++ could be one way, and CDM in LULUCF is another, as we shall see. Parties could also be enabled to use every current and future market-based mechanism to meet their reduction commitments. This briefing provides background to these key issues for Cancun.

1. A massive extension of the CDM is proposed

Carbon markets – A distraction from the real priority: immediate emission reductions

In discussions about climate, market interests are of course focused on finance and how the market can participate. In this context, market interests include not just carbon markets, but also land and commodity markets, mining, timber and paper, that hope to profit from offsets. There is a real risk that their increased participation could give market mechanisms, traders and investors more power over development and also over land than developing countries and their peoples.

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