The REDD+ Business Initiative is proud to be a signatory to the Katowice Declaration on Sound Accounting, that seeks to avoid double counting in carbon markets. We are also proud that our flagship REDD+ project, the Tambopata-Bahuaja Biodiversity Reserve in Peru, is one of the first in the world to have corresponding adjustments made by the Government.

 

Environmental and Corporate Groups Urge Countries to Adopt Rules on Sound Carbon Accounting Under Paris Agreement

 

KATOWICE, Poland (4 December 2018) – The International Emissions Trading Association, Environmental Defense Fund and a group of 40 companies, business groups and non-governmental organisations today issued the Katowice Declaration on Sound Carbon Accounting.

Non-state actors are closely following the United Nations Framework Convention on Climate Change (UNFCCC) process as Parties to the Paris Agreement prepare to finalise the guidance for its implementation, and developments under the International Civil Aviation Organisation’s (ICAO) on the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) are also underway. The declaration promotes sound carbon accounting, and urges countries to adopt robust rules to avoid double counting of emissions reductions under the Paris Agreement.

Avoiding the double counting of mitigation efforts in these programs is critical:

1. For environmental integrity: Without strong rules to avoid double counting, including with CORSIA, we risk undermining the goals of the UNFCCC, the Paris Agreement, and CORSIA.
2. For business certainty: To protect against financial and reputational risk, companies investing in mitigation require certainty that purchased emissions reductions will not be used twice.
3. For public confidence: If double-counting is allowed among UNFCCC Parties, or between them and CORSIA, that could undermine confidence among governments, businesses, civil society, and other stakeholders that international institutions have the ability to guide the necessary climate action.

Through the Declaration, companies, civil society and other non-state actors make clear our desire that all Parties agree strong rules at COP24 in Katowice that ensure all forms of double counting are avoided.

“All markets benefit from strong accounting to build investor confidence, but in the world of the Paris Agreement the delivery of the environmental objective absolutely depends on it,” said Dirk Forrister, IETA’s CEO.

“The Paris rules on carbon accounting should support international market linkages that lower costs, spur technology deployment and preserve competitiveness. These are all imperatives for business to scale-up climate action,” Forrister added.

“The wide range of companies and groups united in calling for clear accounting and transparency rules sends a strong message to the Parties meeting in Katowice: the Paris Agreement rulebook must include safeguards to prevent double counting,” said Nathaniel Keohane, Senior Vice President for Climate at Environmental Defense Fund.

”Carbon markets offer enormous promise to enable deep, cost-effective cuts in climate pollution at a global scale – but only if basic accounting rules are in place, like a prohibition on counting the same ton of emissions reductions twice,” Keohane added.

For more information about the RBI contact us here.

 

The REDD+ Business Initiative is attending COP24 and leading several events to raise awareness on the value of REDD+ and natural climate solutions for the private sector to address climate change. Join us to learn about the initiative and REDD+ projects.

During the side events at COP24, a panel of experts will discuss the progress on private sector contribution to reducing deforestation through the REDD+ mechanism. The partners of the REDD+ Business Initiative consider REDD+ as a very potent vehicle for climate action while at the same time achieving important outcomes for biodiversity, food security and community engagement: in short, contributing to the fulfillment of the Sustainable Development Goals. A vehicle that is very well suited to engage companies in early action. The Initiative is inspiring other companies and countries to initiate similar private sector initiatives. More, however, must be done to link government REDD+ initiatives, public and private sector finance and the actions of companies.   

Date: 7th December 2018

Program:

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Time: 14.30-16.00

Venue: EU Pavillon, Room Brussels

Title: Progress on private sector contribution to Reducing Deforestation (REDD+)

Speakers:

1. Rudi Daelmans, (Group sustainability scouting and advocacy Director at Tarkett) 2. Ruben Veefkind, (Greenchoice)

Moderator: Jos Cozijnsen

Objective:

The achievements and potential of private sector investments in REDD+ will be presented, as well as the way in which voluntary projects and international trade of credits could fit in the NDC approach of the Paris Agreement.

This session will share the experiences of a forest sector project ‘Strengthening Sustainable Management of Forests in Georgia’ implemented by a Lithuanian and Hungarian consortium, as well as other projects and shared best practice.

In light of international and national land-based mitigation goals (forest conservation, sustainable development etc.), there is an urgent need to obtain better estimates of forest biomass stocks and changes which are accurate, reliable and transparent. We present recent advances from IPCC 2019 GPG refinement and new estimates, and prospects for large area forest biomass estimation using space-based and ground data sources.

Address the questions:

1. What is achieved by the REDD+ Business Initiative?
2. Why do companies invest in REDD+ and what government actions would encourage them to step up their efforts?
3. How to nest project based action in NDC’s? The case of Peru

The REDD+ Business presentation is part of the session “The key role of forests in mitigating Climate Change, from the Paris Agreement to EU legislation”

About the REDD+ Business Initiative:
The events are organized by the REDD+ Business Initiative, a platform of ten companies investing in REDD+ in co-operation with Ecosphere+/Althelia, IUCN NL and MVO NL. During the side events a panel of experts will discuss the inspiration and motivation behind corporate support for REDD+ as part of their broader sustainability and climate change agendas. The focus will be on the question how public instruments could incentivize more private sector investments in REDD+?

Read more about the RBI here.