View article

Background

In the run-up to a post-Kyoto agreement and Rio+ 20, efforts to mitigate and adapt to climate change are starting to be viewed less as separate endeavors and more as mutually supportive efforts [1]. Such linkages represent a relatively new stance within the climate change regime, which has historically seen a stark separation of mitigation and adaptation efforts [2]. Policy programs such as UN-REDD and REDD+[3, 4], and provisions such as the CDM [5], represent just some of a growing number of international initiatives that embrace the integration of climate change and sustainable development efforts or seek synergy in mitigation and adaptation policies [6,101]. At the local level, interest is growing in farm-based activities promoting land-management strategies that enhance carbon storage in soils and vegetation. These can deliver direct livelihood benefits to the rural poor, even before any carbon payments are provided [7, 8]. The opportunity to harness synergy or ‘multiple wins’ is also apparent within the rapidly evolving voluntary carbon market (VCM)[9, 10]. The VCM operates in parallel to the regulatory or compliance markets and offers a route for governments, NGOs, business and individuals to buy emissions offsets [11]. The VCM has been small compared with the regulatory market, but is growing rapidly. The State of the Voluntary Carbon Markets 2011 Report notes that 131.2 MtCO2-e was transacted globally in the VCM in 2010, up 34% on 2009 figures [12]. For those sectors of society with high dependency on the natural resource base, the VCM offers the prospect of poverty reduction through alternative and diversified …