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Robert O’Sullivan and Alexander Rau

Following a public Workshop held July 30, 2010 by the California Air Resources Board on the design of California’s emerging cap and trade program, Climate Focus and Climate Wedge submitted comments related to sector based crediting and subnational reduction of emissions from deforestation and degradation (REDD).

In light of uncertainty in federal US mandatory emission reduction policies, the rules developed by the California system present a critical opportunity to help frame demand for offsets from forest activities and from internationally linked REDD+ measures.  Given that effectiveness of carbon finance mechanisms rests in the details of the design of rules for compliance systems, authors Robert O'Sullivan and Alex Rao use their extensive experience in international carbon finance to provide ARB with observations on rules being considered, and develop recommendations related to three main issues:

1. Phasing in of projects on the path to subnational and regional crediting systems in international contexts;

2. Implications of how crediting baselines are defined and how this will encourage and enable emissions reductions in developing countries, and

3. Issues of encouraging private investment and risks associated with sectoral crediting options.

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Release Date	August 20, 2010
File Type	[PDF]
File Size	112KB