Forest Carbon Works to Contain Costs of Emissions Reduction

In response to the House Ways and Means Committee hearing on “Addressing Price Volatility in Climate Change Legislation”

WASHINGTON, DC — March 26, 2009 —As the House Ways and Means Committee holds a hearing today on “Addressing Price Volatility in Climate Change Legislation”, The Nature Conservancy released the following statement from Eric Haxthausen, the Conservancy’s Director of U.S. Climate Policy:

“A cap-and-trade system that recognizes emission reductions from forest protection is the best method to lower the world’s carbon emissions while minimizing the cost to the economy and consumers.

“The destruction of the world’s forests produces nearly 20 percent of all carbon emissions released into the atmosphere each year, more than from all the planes, trains and automobiles on earth. If we are to win the battle against climate change, we must lower emissions from all sources – energy, transportation, industry and forests.

“Forest protection is of the most cost-effective strategies we have to fight climate change and can greatly reduce the immediate cost of compliance to a cap-and-trade program. U.S. companies can therefore begin fighting climate change immediately while more expensive carbon reducing technologies become available in later years.

“And the savings companies will achieve will translate into savings for the American consumer.

“Allowing businesses to invest in forest carbon projects also will generate the financial incentives developing countries need to protect their threatened forest resources, lower their carbon emissions and join the global fight against climate change.

“The fight against climate change is a global one. Preventing a ton of carbon emissions from the destruction of tropical forests overseas is just as important as preventing a ton of emissions from industry here in the US.

“And along with fighting climate change, forest carbon projects provide additional benefits: protecting biodiversity, supporting livelihoods of local communities who depend on forests for survival and saving businesses and consumers money.

“It’s a quadruple win.

“It’s simple: Forest carbon works and must be part of the climate change solution.”

The House Ways and Means Committee hearing on “Price Volatility in Climate Change Legislation” will take place Thursday, March 26, 2009, in 1100 Longworth House Office Building, beginning at 10:00 A.M.

The Nature Conservancy is a leading conservation organization working around the world to protect ecologically important lands and waters for nature and people. The Conservancy and its more than 1 million members have protected nearly 120 million acres worldwide. Visit The Nature Conservancy on the Web at www.nature.org.