Dublin, UK, 20th April 2009: EcoSecurities, a leading company in the business of sourcing, developing and trading emission reductions from greenhouse gas abatement projects, Conservation International, The Climate, Community & Biodiversity Alliance and ClimateBiz, announce the findings of their ‘Forest Carbon Offsetting Survey 2009’, one of the first research studies to focus on corporate attitudes concerning carbon offsets from forestry projects.
Highlights of the research, which sampled 120 global, multinational and regional organisations, and 21 carbon companies, included:
- Avoided deforestation (91%) and reforestation with native tree species (89%) were rated the most desirable forestry projects in relation to carbon results;
- South America (78%), Africa (71%) and South East Asia (69%) are the three most desirable regions from which to purchase forest carbon credits;
- The Clean Development Mechanism (64%) and the Voluntary Carbon Standard (60%) were rated as the most desirable standards when purchasing forest carbon offsets;
- Participants highlighted the most important factor when purchasing forest offsets are carbon standards (91%), closely followed by experience and credibility of the project developer (87%);
- In comparison to Europe (19%), companies in North America (50%) are much more willing to pay up front for carbon credits that will be generated in more than five years time;
- Benefits to local communities and the environment (88%) and the global scale of the problem (77%) have been the key motivational factors for adopting offsets from forest carbon projects.
Pedro Moura Costa, President of EcoSecurities, commented, “With the US significantly increasing its focus on climate change and the UN COP15 negotiations taking place at end of 2009 this is an extremely important year for forestry. It’s tremendously encouraging to see that companies are starting to recognise the benefits from forestry projects, not only in terms of the robustness of the carbon offsets, but also in creating sustainable co-benefits and helping to reduce the problem of climate change and deforestation.”
“A growing number of offset buyers recognise the significant role forestry can play in reducing global greenhouse gas emissions while also delivering community and ecosystem benefits,” said Matthew Wheeland, Managing Editor of ClimateBiz. “The importance buyers place on carbon standards and project developer track records, however, shows forestry offsets must meet strict additionality and permanence criteria to prove they work.”
“This survey demonstrates the growing understanding among offset buyers of the potential of forestry activities to generate high-quality, cost-effective emissions reductions while at the same time providing additional advantages like conserving species and supporting local communities,” said Joanna Durbin, Director of Climate Community and Biodiversity Alliance. “I believe the survey findings underscore the important role that the Climate Community and Biodiversity (CCB) Standards play alongside rigorous carbon accounting standards like VCS, helping project developers and offset buyers to identify high quality carbon projects that improve the well-being of local communities and conserve habitats.”
The survey received 141 responses from a mix of global, multinational and regional companies, covering a diverse range of sectors and industries. It provides significant insight into companies’ perceptions of forest carbon offsets and the forestry sector. Support for this research initiative was provided from a number of organisations which include: 2Degrees, Akin Gump Strauss Hauer & Feld LLP, Borealis Offsets, CleanTech.org, GreenBiz, The Karo Group and Westgate.
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Notes to Editors:
EcoSecurities has spent the last 11 years focusing on climate change mitigation activities and is now one of the world’s leading organisations in the business of sourcing, developing and trading emission reductions. EcoSecurities’ emission reduction portfolio is one of the largest in the industry covering a wide range of emission reduction standards (Gold Standard, CDM, VCS etc), technology types and geographical locations. In addition, EcoSecurities provides clients with carbon management services, helping them to understand and deal with an increasingly carbon constrained world.
EcoSecurities has unrivalled climate change experience and has been recognised for a number of industry milestones including:
- The first project developer to become a member of the World Business Council for Sustainable Development
- Development of the first CDM project registered under the Kyoto protocol, NovaGerar Landfill Project in Brazil in 2004
- Structuring of the CDM component of the first project to receive CERs in the world, La Esperanza hydro project in Honduras in 2005
- Received Environmental Finance’ award for ‘Best CDM/JI Project Developer 2008’for the second year in a row alongside the award for ‘Best Voluntary Market Project Developer’
- In 2007 the Group was ranked number 22 in CNBC European Business Magazine’s ‘Top 100 Low Carbon Pioneers’
- Recognised by Environmental Data Services as one of the top 30 international carbon offset providers
EcoSecurities Group plc is listed on the London Stock Exchange AIM (ticker ECO). Additional information is available at www.EcoSecurities.com.
Conservation International (CI) is one of the world’s leading international conservation NGOs with projects or programs in about forty countries. CI’s mission focuses on the linkage between the protection of natural systems and human well-being.
CI’s integrated climate change program includes science, policy, communications, and the development of market-based approaches, which includes developing incentives for the protection and restoration of tropical forests, to achieve aggressive global greenhouse gas emissions reductions. CI, with its international partners, is one of the leading developers and marketers of multiple-benefit forest carbon projects in the voluntary market, with a growing portfolio of forest restoration and reduced emissions from deforestation (REDD) projects located in sixteen countries.
The Climate, Community & Biodiversity Alliance
The Climate, Community & Biodiversity Alliance (CCBA) is a partnership between leading companies, NGOs and research institutes seeking to promote integrated solutions to land management around the world. With this goal in mind, the CCBA has developed voluntary standards to help design and identify land management projects that simultaneously minimise climate change, support sustainable development and conserve biodiversity.
The CCB Standards are now widely used by projects and demanded by buyers in the forest carbon market. As of March, 2009 twenty-four projects have been validated or are undergoing audit and approximately one hundred other projects around the world are being designed to meet the standards. These projects include reforestation, restoration, avoided deforestation and degradation, and agroforestry activities. More information about the CCBA and the CCB Standards can be found at www.climate-standards.org.
ClimateBiz is the business resource for climate management. ClimateBiz informs CFOs, CIOs, supply-chain, operations and other executives on the key business issues in climate and carbon. The website and its free fortnightly newsletter ClimateBiz News offer news, best practices and resources in such areas as carbon measurement, reduction and trading; renewable energy; and carbon offsets.
ClimateBiz (www.climatebiz.com) is a website of Greener World Media, the leading media and information services company focused exclusively on the greening of mainstream business. Greener World Media websites include GreenBiz.com, GreenerBuildings.com, ClimateBiz, GreenerComputing.com, and GreenerDesign.com. Greener World Media also produces the annual State of Green Business report and other research, as well as Greener By Design and other conferences.