Reducing emissions from deforestation and degradation (REDD) has moved firmly onto the agenda as the parties to the United Nations Framework Convention on Climate Change (UNFCCC) approach the climate change negotiations at the Conference of the Parties (COP) 15 at Copenhagen in December 2009. REDD is an option that could rapidly and cost-effectively reduce GHG emissions and could also protect biodiversity and benefit local and indigenous peoples. Furthermore, the engagement of the United States and others has heightened interest in, and debate about, the use of emissions offsets to achieve greenhouse gas (GHG) emissions reduction goals.
Executive summary: In this paper we investigate the impact of implementing REDD in the context of a global effort to combat climate change. Specifically, we explore the effects of incorporating REDD in international carbon markets. We expand on previous modelling efforts by simulating carbon market interactions under expanded Annex I commitments which are aligned with the goal of avoiding a greater than 2.0-2.4°C rise in global temperatures.
Num. pages: 33