According to Kevin Conrad, the inspiration for REDD came from a 2003 conversation on a beach in Wewak that he had with Michael Somare, Papua New Guinea’s then-prime minister. They talked about a US$17 million loan that the World Bank had offered if PNG would shut down its logging industry.
What Conrad also appears not to mention is that the first big issuance of credits under his beloved UNFCCC REDD+ scheme - the 90 million issued to Gabon recently, said to be "coming soon" to Conrad's trading platform - is that they are purely the result of exactly the same kind of carbon accounting fiddles as the ART-TREES credits from Guyana.
The carbon market increasingly resembles a bunch of crooks trying to undercut and discredit each other's 'fell-off-the-back-of-a-lorry' goods.
What Conrad also appears not to mention is that the first big issuance of credits under his beloved UNFCCC REDD+ scheme - the 90 million issued to Gabon recently, said to be "coming soon" to Conrad's trading platform - is that they are purely the result of exactly the same kind of carbon accounting fiddles as the ART-TREES credits from Guyana.
The carbon market increasingly resembles a bunch of crooks trying to undercut and discredit each other's 'fell-off-the-back-of-a-lorry' goods.