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REWARDING BENEFITS THROUGH PAYMENTS AND MARKETS
Deforestation and forest degradation accounts for
about 17% of global greenhouse gas (GHG) emissions
(IPCC 2007c). Successful agreement on a REDD mechanism
could therefore significantly contribute to
meeting the UNFCCC’s ultimate objective, namely “to
achieve stabilisation of greenhouse gas concentrations
in the atmosphere at a level that would prevent dangerous
anthropogenic interference with the climate system”
(Article 3) (see Box 5.10).
The actual amount of deforestation/degradation that
could be avoided – and thus the level of emissions prevented
or new sequestration capacity gained – will depend
inter alia on:
• the baselines that are set (what area with what
carbon store and what carbon sequestration rate is
being lost and at what rate?);
• the incentives behind the loss (who benefits and
by how much?); and
• financial mechanisms (discussed below).
It is expected that REDD will have a substantial impact
on climate change mitigation because it is estimated to
be a low-cost GHG mitigation option compared to many
other emission abatement options (see Box 5.11). Moreover,
sustaining forests and high forest biodiversity improves
both the carbon storage capacity of forests and
their resilience to future shocks – such as ability to withstand
changes in climatic conditions, pollution and invasive
alien species.
Box 5.9: Opportunities for multi-country PES: example of the Amazonian ‘water pump’
Five countries share the Amazon basin. Amazonia’s forests evaporate roughly eight trillion tonnes of water
each year (IPCC 2007b) which falls as rain, helps maintain the forests and is transported to the Andes and
down to the Plata River Basin, where agriculture, hydropower and industry generate about US$ 1 trillion for
these countries (Vera et al. 2006). The region’s food, energy and water security are thus underpinned by
the Amazonian ‘water pump’. National and international PES could help to maintain this critical service.
Source: adapted from Marengo et al. 2004
TEEB FOR NATIONAL AND INTERNATIONAL POLICY MAKERS - CHAPTER 5: PAGE 23