A new report has warned that failure to establish legal standards and safeguards for a mechanism destined to transfer funds to nations with rich forests may trigger a sharp increase in speculation and
corruption, putting unprecedented pressure on rainforest covered land and on the communities they inhabit, despite the agreement in Copenhagen.
The report, issued by the Rights and Resources Initiative (RRI), an international coalition of forest organizations, concludes that unclear rights over land in some countries along with threats of corruption, could block the success of the 3.5 billion dollars donated to a program which would reduce the amount of carbon send into the atmosphere, by preventing the destruction of tropical forests.
The authors report invoke numerous related studies, suggesting that, in 2010, the huge potential of profits will increase competition over forest resources between powerful governments worldwide, investors on the one hand, local actors on the other, resulting in violent conflict.
"Throwing piles of money in a system without agreeing with any framework or standard has the potential to trigger a wave of speculation, never seen before," said Andy White, Coordonator of RRI and one the authors report. "The result will be chaos on carbon markets and chaos in this domain. It will be like the Wild, Wild West", he added. A prominent figure of the Copenhagen agreement signed in December last year, the initiative known as REDD - reduced emissions by deforestation and degradation - was announced as one of the rare points of agreement in Copenhagen. Negotiators hoped that REDD can deliver low-cost and easyemissions reductions as well as attracting finances and investments for development.
However, their failure to agree on legal standards and guarantees for the implementation of REDD schemes suggests that there will be no uniformity in carbon governance in these countries. The study
says that in this situation, the inevitable diversion of funds, land thefts, and conflicts will limit emission reductions from forests and will worsen delicate situation of the people from the South. "If
governments take the necessary mandates and governance reforms that will reduce emissions, the world faces a devastating back-slide in business," he added.
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