12 Sep 2008
10:59 pm IST

Telegraph reported recently as Prince Charles saying:

"Like the financial markets that already exist, the new system would put a value on rainforests in order to protect the benefits they bring such as absorbing carbon emissions, generating fresh water and preserving wildlife. Traders could then make a healthy profit from buying and selling rainforest as a new asset class."

A trading mechanism, he sees, as a possible way to reverse the dangerous trend of rain forest depletion in the world. We are losing about rain forest the size of a football pitch is chopped down every four seconds.

Rain forests help in regulating temperature and weather patterns, nurture a rich diversity of plants including herbs and medicinal plants and provide shelter to about 50% world's animals. It needs to be protected, everyone agrees. Some serious actions have also been attempted in many places across the world. But, is trading a way to go?

Carbon trading has resulted in very little actual reductions in carbon emissions, experts unanimously state. Many of the clean development mechanisms are also showing any great signs of reductions of green house gases. Therefore there is surely a need to do something dramatic. But is trading the answer to it?

Is there a single natural resource that has been preserved by instruments of trading? Can we imagine protecting communities of lions and tigers by allowing trading in financial markets?

Why should any one do any thing about rainforests? In our minds, isn't the best method of preserving rainforests is to DO NOTHING?

Be the change,
k.m.e.
"A small body of determined spirits fired by an unquenchable faith in their mission can alter the course of history. Gandhiji."