Reducing emissions from deforestation and forest degradation plus (REDD+) in the Philippines: will it make a difference in financing forest development?
Rodel Lasco (),
Marie Habito and
Mitigation and Adaptation Strategies for Global Change, 2013, vol. 18, issue 8, 1109-1124
There is a high level of interest in reducing emissions from deforestation and forest degradation plus (REDD+) carbon (C) financing as a way to accelerate forest conservation and development. However, there is very limited information on the potential costs and benefits of REDD+ in developing countries like the Philippines. In this paper, we estimated the range of likely financial benefits of REDD+ implementation in the country under various forest degradation and mitigation scenarios. Our findings show that reducing the rate of forest degradation by a modest 5 to 15 % annually while increasing the doubling the rate of reforestation to 1.5 % annually could reduce C emissions by up to about 60 million t C by 2030. These are equivalent to US$ 97 to 417 million of mean C credits annually at US$ 5 per ton C. These figures are much higher than the total budget of the government and official development assistance for forestry activities in the country which amounted to US$ 46 million in 2005 and US$ 12 million in 2006, respectively. We conclude that REDD+ C credits could be a significant source of financing for forestry projects in developing countries like the Philippines. Copyright Springer Science+Business Media B.V. 2013
Keywords: Carbon; Financing; Forest; Mitigation; Philippines; REDD+ (search for similar items in EconPapers)
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