May 12, 2005
For some time now, the issue of how to incorporate forestry sinks (referred to as Land Use, Land Use Change, and Forestry, LULUCF) into a carbon emissions trading scheme has been extremely controversial. Critics believe that sinks will simply serve as an easy “greenwashing” mechanism that will enable companies to not reduce their greenhouse gas (GHG) emissions. They further point out that paying for sinks will lead to the creation of monoculture plantations in developing countries; plantations that ultimately damage biodiversity, impact communities, and don't really contribute to resolving the climate change problem. Advocates say that incorporating sinks into carbon emissions trading schemes will ultimately be beneficial not only to the climate, but also to forests, biodiversity, and communities in developing countries. They further charge that including sinks is important to carbon emitting businesses because it will keep the costs of meeting Kyoto targets down.
2005 was a pivotal year for these issues. The EU-ETS, the world's largest carbon market, was poised to review its decision to exclude forestry sinks and countries were beginning to debate how Kyoto's mechanisms for flexibility, primarily the Clean Development Mechanism (CDM) and Joint Implementation (JI), would operate from 2012 forward. At this key time, the Katoomba Dialogue brought together a distinguished panel from a variety of backgrounds to discuss issues surrounding LULUCF:
This event took place at the CARBON EXPO, a global carbon fair and conference, which was co-organized by IETA, the World Bank and Koelnmesse. For more information about CARBON EXPO, visit www.carbonexpo.com.