The climate conference is likely to see progress on the negotiations on a scheme to reduce carbon dioxide emissions by saving the forests, says chairman of the talks.

Marianne Bom02/12/2009 11:00

A number of issues still need to be resolved, but the scheme on reduced emissions from deforestation and degradation (REDD) is likely to make progress at the climate conference, says the chairman of the REDD talks within the UN climate negotiations. The potential is an agreement on a carbon trading scheme worth billions of dollars a year from 2013.

"I think it’s a foregone conclusion that REDD will be part of the new agreement. Ironically it’s actually the most advanced now," says Tony La Vina, chair of the REDD negotiations, to Reuters.

La Vina adds that the scheme still faces hurdles and more talks are needed. Among remaining issues to be solved are finalizing which institutions will manage the cash, ensuring developing nations a say in how to use the money and deciding the extent of the market’s role in providing some or all of the funds.

While financing is a major problem in the parts of the climate negotiations on mitigation and adaptation to global warming in developing countries, money is not the problem for REDD.

"Developed countries are at the door with the funding and the capacity-building and support and they just want to make sure certain things are met," says Tony La Vina to Reuters.

Paul Winn, forest and climate campaigner for Greenpeace Australia, says that "if anything is going to be delivered at Copenhagen it’s going to be REDD."

"That is because we are looking at a huge global emissions source. There is also the recognition that it is a relatively cheap, easy form of emissions reductions," he tells Reuters.