California’s Cap and Trade Program (AB 32), managed by the Air Resources Board, may soon be able to start allowing companies to meet emission reduction regulations by including rainforest jurisdictions in their offset options. This would allow regulated industries in California to purchase surplus allowances from regions like Acre, Brazil, which are tapping into innovative emission reduction strategies. If approved, this would be the first program of its kind to allow for the reduction in tropical deforestation to sync up with market demands.
Read the full article at The Los Angeles Times.
Deforestation in Brazil’s Amazon rain forests reduces the land to grass. (Vincent Bevins / For The Times)