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Carbon-Based Conservation Strategies in Latin America: An Innovative Tool for Financing Environmental Conservation

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  • Sheldon M Cohen

    (Initiative for Innovative Conservation Finance (IICF), 4245 N. Fairfax Dr., Arlington, VA 22201, USA)

Abstract

Climate change is now underway and is likely to have far-reaching impacts on the global environment and human welfare. While addressing this problem will require a fundamental transformation in energy use, carbon sequestration (i.e., storage) strategies can also play an important role. These strategies include preserving threatened forests and promoting ecosystem restoration of degraded lands. Such strategies not only help to address climate change but also contribute significantly to conserving the earth's highly threatened forest ecosystems and biological diversity (“biodiversity”) – resources which are critical to human prosperity and survival. The Nature Conservancy has pioneered forest carbon sequestration projects in Latin America. The largest such project, Noel Kempff Climate Action Project in Bolivia, is described in detail, including some of the major design issues and challenges. The article concludes with a brief discussion of why the insurance industry might be motivated to participate in carbon sequestration strategies. The Geneva Papers on Risk and Insurance (2002) 27, 255–267. doi:10.1111/1468-0440.00167

Suggested Citation

  • Sheldon M Cohen, 2002. "Carbon-Based Conservation Strategies in Latin America: An Innovative Tool for Financing Environmental Conservation," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 27(2), pages 255-267, April.
    • Handle: RePEc:pal:gpprii:v:27:y:2002:i:2:p:255-267
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    Cited by:

    1. Grover, Mansi & Bosch, Darrell J. & Preisley, Stephen P., 2005. "Effects of Private Insurance on Forest Landowners' Incentives to Sequester and Trade Carbon under Uncertainty: Impact of Hurricanes," 2005 Annual meeting, July 24-27, Providence, RI 19516, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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