This week the ITTO Annual Market Discussion was held in Yokohama, attended by the Trade Group Advisory (TAG) of which ATIBT is a member. The TAG has also issued its annual statement.
The annual Market Discussion is organized as a joint session of the Council's Committees to inform its members about current trends and obstacles to the tropical timber trade, and to formulate key messages for governments, traders and other stakeholders.
During this meeting, where carbon was a major topic of discussion, Pierre Schueller (TEREA) represented ATIBT within the TAG as co-president and co-secretary of the Carbon Commission. Returning to the issue of carbon trading in the Congo Basin, he explained that companies operating in the region are showing increasing interest in carbon trading, but that few actors are familiar with the mechanisms, rules and criteria for engaging in carbon trading. He also noted that REDD+ has generated significant financing opportunities in several African countries and that examples of forest carbon project initiatives are emerging. For example, in 2021, Gabon became the first country in Africa to receive performance-based payments for reducing emissions from deforestation and degradation.
Crédits : Yuji Kamijo/ITTO - Pierre Schueller
Pierre Schueller pointed out that the main challenge for the implementation of forest carbon projects in Africa is to resolve technical barriers and to determine who owns the resulting carbon credits. In this regard, international organizations such as ITTO have a role to play in improving knowledge on this topic.
ITTO has published on its website several articles about this meeting:
Tropical timber projects
ATIBT channel on YouTube