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Reducing emissions from deforestation and forest degradation plus (REDD+) in the Philippines: will it make a difference in financing forest development?

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Abstract

There is a high level of interest in reducing emissions from deforestation and forest degradation plus (REDD+) carbon (C) financing as a way to accelerate forest conservation and development. However, there is very limited information on the potential costs and benefits of REDD+ in developing countries like the Philippines. In this paper, we estimated the range of likely financial benefits of REDD+ implementation in the country under various forest degradation and mitigation scenarios. Our findings show that reducing the rate of forest degradation by a modest 5 to 15 % annually while increasing the doubling the rate of reforestation to 1.5 % annually could reduce C emissions by up to about 60 million t C by 2030. These are equivalent to US$ 97 to 417 million of mean C credits annually at US$ 5 per ton C. These figures are much higher than the total budget of the government and official development assistance for forestry activities in the country which amounted to US$ 46 million in 2005 and US$ 12 million in 2006, respectively. We conclude that REDD+ C credits could be a significant source of financing for forestry projects in developing countries like the Philippines.

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Acknowledgments

We express our gratitude to the support provided by the following ICRAF projects in the conduct of the study: the IFAD-supported RUPES project and the Alternatives to Slash and Burn (ASB) program. We also thank two anonymous reviewers whose comments improved the paper.

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Correspondence to Rodel D. Lasco.

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Lasco, R.D., Veridiano, R.K.A., Habito, M. et al. Reducing emissions from deforestation and forest degradation plus (REDD+) in the Philippines: will it make a difference in financing forest development?. Mitig Adapt Strateg Glob Change 18, 1109–1124 (2013). https://doi.org/10.1007/s11027-012-9411-5

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Keywords

  • Carbon
  • Financing
  • Forest
  • Mitigation
  • Philippines
  • REDD+