Climate Change: Financing Global Forests
The Eliasch Review
By Johan Eliasch
'Arguably one of the most important books to be published in recent months.'
CNBC European Business
Hardback
November 2008 •
288 pages •
244 x 168mm •
ISBN 9781844077724
An area of forest the size of England is cut down in the tropics each year. Forestry is responsible for a fifth of global carbon emissions - more than the entire world transport sector. Urgent action to tackle the loss of global forests needs to be a central part of any new international agreement on climate change.
Climate Change: Financing Global Forests is an independent report commissioned by the UK Prime Minister to address this vitally important issue. It assesses the impact of global forest loss on climate change and explores the future role of forests in the international climate change framework, with particular emphasis on the role of international finance. It also looks at the economic and policy drivers of deforestation and describes the incentives required to ensure more sustainable production of agriculture and timber in order to meet global demand while reducing carbon emissions.
The report draws on a wide range of international expertise and will have significant national, EU and international interest and influence. It includes new modelling and analysis of the global economic impact of continued deforestation and provides a comprehensive assessment of the opportunity and capacity-building costs of addressing the problem. It shows that the benefits of halving deforestation could amount to $3.7 trillion over the long term. However, if the international community does not act, the global economic cost of climate change caused by deforestation could amount to $12 trillion.
In this comprehensive and detailed report, Johan Eliasch makes a clear and forceful case for forests to be included in international carbon trading mechanisms. He calls for the international community to support forest nations to halve deforestation by 2020 and to make the global forest sector carbon neutral by 2030.
'I welcome this report's contribution to the global debate about how we address this ... I hope it can help the vital process of securing agreement on climate change in Copenhagen.'
Ed Miliband, Secretary of State for Energy and Climate Change
'The Eliasch Review makes a clear and compelling case for urgent action to save rainforests through market forces.'
Fauna and Flora International
'The Eliasch Review is a welcome recognition of the importance of reducing emissions through deforestation in a global agreement to tackle climate change ... Deforestation is responsible for 15 to 20 per cent of greenhouse gas emissions and this Review underlines the importance of making carbon savings from forests - as well as the financial, environmental and social consequences of inaction.'
WWF
CONTENTS
Executive Summary
Introduction
Part I: The Challenge of Deforestation
Forests, Climate Change and the Global Economy
The Drivers of Deforestation
Sustainable Production and Poverty Reduction
The Costs of Mitigation
Part II: Forests and the International Climate Change Framework: The Long Term Goal
A Long Term Framework for Tackling Climate Change
The Current International Climate Change Framework
Part III: The Building Blocks of Forest Financing: The Medium Term Approach
Transition to a Long Term Framework
Effective Targets for Reducing Forest Emissions
Measuring, Monitoring and Verifying Emissions from Forests
Linking to Carbon Markets
Governance and Distribution of Finance
Part IV: International Action, Capacity Building and Short Term Funding
The Funding Gap and Capacity Building
Conclusions
Johan Eliasch is Special Representative of the Prime Minister on Deforestation and Clean Energy. Born in Sweden but now based in the United Kingdom, he is Chairman and CEO of Head, the global sporting goods group. He is also the first President of Global Strategy Forum, an independent think-tank, and founder of the international charity Cool Earth, a charity that protects endangered rainforests.