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Flannery swoops in to PNG to do deals with villages: plans a forest-trading carbon market with Google Earth satellite data and “ebay-like” trade, by industrial firms

Posted by gmarkets on 20 September, 2007

Australian of the Year Dr Flannery gave an address in the Papua New Guinea capital, Port Moresby, calling on industrialised nations buy credits he would sell on behalf of PNG villages, reported The Canberra Times (21/8/2007, p. 2). Satellite and e-bay technology : Flannery said his proposed direct carbon trading system would use satellite technology, employing Google Earth as an observation tool and relying on “ebay-like” buying online by indus­trial firms, non-government organis­ations or governments seeking car­bon credits.

Villagers paid: Buyers would get credits to offset industrial emissions, villagers would get paid for preserving their forests, and biodiversity would be protected, Flannery said. “We are trying to set up systems that allow for the people in the village to be directly responsible for the sequestered carbon balance on their land and be paid for that,” he said. “There’s a huge potential for transactions. It’s about developing the capacity for that direct transfer to occur.”

Allows some logging: Under the system, some logging could still occur as long as there was some positive sequestering of forest for balance, Flannery said. Villages could have computers in their schools, see their own land in a satellite image and work out how much money they could earn by keeping carbon locked up in their forests.

Huge market for credits: : WWF’s PNG conservation strategies manager Robert Bino said uncontrolled logging was a major contributor to global warming. “Less than 1 per cent of forestry operations in PNG are certified as sustainable. The rest are adding to the climate problem.” he said.

The Canberra Times, 21/8/2007, p. 2

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