Analysis Reveals REDD+ Projects' Impact on Forest Loss and Market Credibility
A University of Cambridge study indicates that while many REDD+ projects effectively reduced deforestation, they issued excessive carbon credits. Accurate representation of carbon credits is essential to restore confidence in the voluntary carbon market and enhance tropical forest protection.
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A recent analysis from the University of Cambridge highlights that many REDD+ projects have successfully mitigated forest loss, although nearly eleven times more carbon credits were issued than warranted. The study synthesized evaluations of 44 REDD+ projects, revealing that four out of five projects effectively protected forests, countering the perception of widespread over-crediting issues.
This over-issuance has contributed to a significant decline in carbon market value, now at approximately one quarter of its 2022 peak of $2 billion. Future REDD+ initiatives must utilize more representative reference forests and ensure the claimed impacts align with actual deforestation reductions to restore market credibility and support tropical forest conservation.
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