London — Companies looking to offset their climate-warming emissions can have a bigger impact backing governments’ initiatives to halt forest destruction rather than planting new trees, an environmental group said on Thursday.
“Are we trying to solve climate change here or have some nice local impacts we can put on a brochure?” asked Eron Bloomgarden, Emergent’s executive director. Deforestation delivers a double whammy to emissions reduction, removing trees that would have absorbed carbon dioxide from the atmosphere while also releasing carbon the trees already had stored.
Tens of billions of dollars more are needed from the private sector, she said, and there is untapped demand in the global carbon market to fill the gap.
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