Fighting fire, Brazil opens Carbon Market
As reported by the ISN, International Regulations and Security Network, early on since the introduction of the Kyoto Protocol, the Rio de Janeiro Stock exchange has been open for carbon credit trade, incentivating projects in Clean Development Mechanisms (CDMs) that allow Brazilian and South American companies to sell carbon credits to developed countries.
In Manaus - the Amazon state, the carbon credit market is now open for communities that limit deforrestation and environmental degradation, according to the Vancouver Sun. Deforrestation worldwide is said to contribute to 20% of total carbon emissions.
With this in mind, the World Bank is funding US$250 million to reward developing countries which have high deforrestation rates such as Brazil, India and Indonesia for limiting and showing proof of a reduction in deforrestation. Article in The Sunday Times.
In Australia, authorities are turning to ancient aboriginal tactics in a unique carbon trading deal to contol and prevent the spread of bushfires, according to the BBC.