Deforestation in the next five years[when?] will release more carbon dioxide than all aircraft since the Wright Brothers until at least 2025;2 however, credits from reduced deforestation were omitted from the Clean Development Mechanism for the first commitment period of the Kyoto Protocol, so there is little incentive for forested countries to reduce their deforestation rates. The Forests NOW declaration seeks to establish new market based mechanisms to protect the ecosystem services that forests provide in biodiversity conservation, carbon sequestration and global and local hydrological and mineral cycles.
The Declaration prescribes six changes to the existing carbon market frameworks:
Over 200 individuals and organisations have signed the declaration including:3
Stern N. (2006). The Stern Review on the economics of Climate Change. Cambridge University Press. /wiki/Stern_Review ↩
[dead link]Forests First in the Fight Against Climate Change Archived 10 September 2008 at the Wayback Machine Global Canopy Programme, 2007 /wiki/Wikipedia:Link_rot ↩
A full list of signatories https://web.archive.org/web/20100611160429/http://www.forestsnow.org/endorsers.php ↩
"News story – TFT endorses the Forests Now Declaration". Archived from the original on 23 November 2007. Retrieved 27 November 2007. https://web.archive.org/web/20071123135014/http://www.tropicalforesttrust.com/news-detail.php?newsid=93 ↩