A new CGD working group report says performance payments can play an important role in providing visible and meaningful incentives to reduce deforestation. That’s important because the benefit to the global climate from keeping trees standing is huge.
CGD Policy Blogs
When it comes to fighting climate change, California is already a world leader on pricing carbon, transitioning to renewable energy, and decarbonizing the world’s eighth largest economy. California has yet another golden opportunity to lead on climate, by green-lighting finance to protect tropical forests.
Last Friday, I wrote about how President Obama should hail Indonesian President Joko ("Jokowi") Widodo’s dramatic announcement last week to halt further development of peatlands and to initiate a major program to restore peatlands that have already been disturbed. While the Joint Statement out of the meeting does mention peatland, the US response to Jokowi’s potentially game-changing new course of action appears to fall short.
When Indonesian President Joko Widodo (“Jokowi”) meets with President Obama on October 26, climate change will certainly be on the agenda, with the Paris 2015 summit only a month away. Obama should use the opportunity to praise and offer support for the steps Jokowi announced earlier today to address the underlying causes of fires currently consuming vast areas of Indonesia’s forests and peatlands. In particular, Obama should hail Jokowi’s plans to end the opening of peatlands for cultivation and to promote community-based restoration of those already disturbed. Neither head of state should allow his vision to be clouded by spurious claims that proposed solutions will hurt small farmers or infringe on Indonesia’s national sovereignty.
If you want a simple explanation of why climate change is a development issue, Juliana Santiago can provide it. The head of the Amazon Fund department at Brazil’s national development bank BNDES tells me “we identified that our economy was dependent on the maintenance of the forest,” and that, with 29m people living in the Amazon, many in poverty, getting rural landowners to “understand that deforestation might be a threat to their business was part of this engagement in protecting the forest and thinking about sustainable development.”
There’s a lot to like about the climate pledges that nearly 150 countries have now submitted to the United Nations in advance of the climate summit in Paris in December. I’ve grouped them into seven storylines that I think deserve attention.