Costa Rica is part of the Eight

CostaRicaForest

I am sure that we have all heard about the Group of Eight or G8 as most commonly known. The G8 is an international forum of the governments of Canada, France, Germany, Italy, Japan, Russia, UK, and the USA. These 8 Countries embody approximately 65% of the world’s economy and the larges military power. The objective of the G8 forum is to discuss diverse issues of mutual global concern. However, have you heard about the Forestry Eight? The Forestry Eight is an international forum of the governments of Brazil, Malaysia, Papua New Guinea, Gabon, Cameroon, Costa Rica, Congo and Indonesia. Together, these eight countries contain 80% of the world’s tropical forest. The Forestry Eight plans to meet at the UN-convened gathering on climate change, held on September 24th in New York. The objective of the Forestry Eight is to have forest preservation included in the successor to the Kyoto protocol on climate change. The Kyoto protocol expires in 2012 and under this protocol, only reforestation and afforestation are eligible for carbon credits. Carbon Credits are permits that allow carbon dioxide emissions. For example, one carbon credit gives the owner the right to emit one tone of CO2. Carbon credits are tradable permits and they can be bought, sold or exchanged in the international market.

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