"Forest Carbon Market Already Shows Cracks"

"LONDON/NUSA DUA, Indonesia, June 4 (Reuters) - It could save the rainforests of Borneo, slow climate change and the international community backs it. But a plan to pay tropical countries not to chop down trees risks being discredited by opportunists even before it starts.

A forest carbon market is emerging in anticipation of a global, U.N. climate deal in December in Copenhagen, expected to allow rich countries to pay to protect rainforests as a cheap alternative to cutting their own greenhouse gases.

Officials in Papua New Guinea (PNG) have underlined how things may go awry.

Reuters has uncovered evidence of a multi-million-dollar offer of assistance from carbon brokers to a government agency, and confusion over whether offset sales were from valid projects."

Gerard Wynn and Sunanda Creagh report for Reuters June 3, 2009.

Thursday, June 4, 2009