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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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  • Rodel Lasco
  • Rizza Veridiano
  • Marie Habito
  • Florencia Pulhin

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. Copyright Springer Science+Business Media B.V. 2013

Suggested Citation

  • Rodel Lasco & Rizza Veridiano & Marie Habito & Florencia Pulhin, 2013. "Reducing emissions from deforestation and forest degradation plus (REDD+) in the Philippines: will it make a difference in financing forest development?," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 18(8), pages 1109-1124, December.
    • Handle: RePEc:spr:masfgc:v:18:y:2013:i:8:p:1109-1124
    DOI: 10.1007/s11027-012-9411-5
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    References listed on IDEAS

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    1. Stern,Nicholas, 2007. "The Economics of Climate Change," Cambridge Books, Cambridge University Press, number 9780521700801.
    2. Lasco, Rodel D & Lales, Joveno S & Arnuevo, Ma.Theresa & Guillermo, Ina Q & de Jesus, Agnes C & Medrano, Reinero & Bajar, Orlando F & Mendoza, Cirilo V, 2002. "Carbon dioxide (CO2) storage and sequestration of land cover in the Leyte Geothermal Reservation," Renewable Energy, Elsevier, vol. 25(2), pages 307-315.
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