Preserving Indonesia’s tropical forests by selling credits for the billions of tons of carbon they contain could be as profitable as razing the forests to grow palm oil, according to a new study. The study, published in the journal Conservation Letters, said that saving the forests could generate just as much money as destroying them if a global carbon market is established that prices carbon at $10 to $33 per ton. Under the conservation program known as REDD — Reducing Emissions from Deforestation and Degradation — governments, businesses, and investors would buy credits on a global market that would enable them to emit more carbon than allocated under so-called cap-and-trade programs. The money spent on those credits could be used to pay the Indonesian government or landowners not to destroy tropical forests to grow palm oil, a highly profitable crop. The spread of oil palm plantations has led to massive destruction of Indonesia’s tropical forests. The study, conducted by an Australian biologist, said that 8.2 million acres of forest on Kalimantan on the island of Borneo are soon scheduled to be cleared for palm oil plantations.
Selling Forest CO2 Credits Could Equal Profits from Palm Oil Farms
More From E360
-
Energy
Why U.S. Geothermal May Advance, Despite Political Headwinds
-
Food & Agriculture
In War Zones, a Race to Save Key Seeds Needed to Feed the World
-
Climate
Lightning Strikes the Arctic: What Will It Mean for the Far North?
-
RIVERS
A Win for Farmers and Tribes Brings New Hope to the Klamath
-
Solutions
Deconstructing Buildings: The Quest for New Life for Old Wood
-
NATURAL DEFENSES
How Restored Wetlands Can Protect Europe from Russian Invasion
-
Solutions
Birds vs. Wind Turbines: New Research Aims to Prevent Deaths
-
FORESTS
Cambodian Forest Defenders at Risk for Exposing Illegal Logging
-
OPINION
The ‘Green’ Aviation Fuel That Would Increase Carbon Emissions
-
CONSERVATION
Out of the Wild: How A.I. Is Transforming Conservation Science
-
Energy
China’s Mega Dam Project Poses Big Risks for Asia’s Grand Canyon
-
Solutions
How Natural Solutions Can Help Islands Survive Sea Level Rise