By the Numbers: Linking the ICAO Global Market-Based Mechanism to REDD+ in Colombia

By Peter Graham and Anthony Mansell
Climate & Energy, Forests & Lands

The nation of Colombia could attract hundreds of millions of dollars in investment for protecting its forests through a plan currently under consideration by the International Civil Aviation Organization (ICAO) and its 191 member states, according to new analysis by the firm Climate Advisers. The analysis finds that the benefits of the plan would dramatically outweigh the costs, all while taking action to prevent climate change. Here are the most important numbers from our new report, available here:

2 billion tonnes

The new global demand for investment-grade carbon emissions reductions created by the International Civil Aviation Organization (ICAO) and its 191 member States for 2021-2035

$300 million
to $9 billion

The investment opportunity for the Government of Colombia to generate Foreign Direct Investment by supplying the Carbon Offsetting and Reduction Scheme (CORSIA) with these emissions reduction credits – by simply agreeing to leave portions of its rich forested land intact.

87.7%

The amount of international aviation activity represented by the 71 countries that have already agreed to participate in the pilot phase starting in 2021. Colombia can help build the value of CORSIA credits by joining these countries and encouraging others in the region to do the same.

$23 million
to $54 million

The total cost to Colombian airlines of joining this program from 2021-2026, far outweighed by the benefits.


 

For more information, read the full report here >

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On August 14, 2017

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