The carbon market in Madagascar
The international market for forest carbon has emerged as a new potential source of funds for conservation and community-based sustainable development initiatives in Madagascar. Three "avoided deforestation" and reforestation deals were announced in Madagascar during the first 8 months of 2008 alone and a number of other projects are in the pipeline.
Reducing Emissions from Deforestation and Degradation (REDD) is a proposed mechanism that would reward tropical countries with carbon credits for preserving their forest cover. Globally, deforestation accounts for nearly one-fifth of anthropogenic greenhouse gas emissions — more than the transport sector — and some analysts believe that reducing deforestation represents one of the most cost-effective ways of slowing greenhouse gas emissions.
Recent news on carbon finance in Madagascar
Dell becomes carbon neutral by saving endangered lemurs
(8/6/2008) Dell, the world's largest computer maker, announced it has become the first major technology company to achieve carbon neutrality.
14 countries win REDD funding to protect tropical forests
(7/24/2008) Fourteen countries have been selected by the World Bank to receive funds for conserving their tropical forests under an innovative carbon finance scheme.
Madagascar signs big carbon deal to fund rainforest conservation
(6/11/2008) Madagascar will sell more than nine million tons of carbon offsets to fund rainforest conservation in a newly established protected area. conservationists say the deal protect endangered wildlife, promote sustainable development to improve the economic well-being of people living in and around the park area, and help fight global warming.
More news on avoided deforestation can be found at mongabay.com's carbon finance blog
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