Policy Hub
On 26 August 2008, the think tank Policy Exchange published a report (The root of the matter: carbon sequestration in forests and peatlands) which finds that projects designed to halt deforestation and peatland destruction represent a far more cost effective means of cutting carbon emissions than biofuel subsidies.
The report argues that while the biofuel subsidies that support the government's target of ensuring 5% of transport fuel comes from biofuels by 2010 will cost the Treasury £550 million, they will result in carbon emission reductions of just 2.6 to 3.0 million tonnes of CO2 a year, equivalent to one tenth of the output of one coal-fired power station.
It concludes that investing the same sum in preventing deforestation and peatland destruction would cut emissions by up to 200 million tonnes a year, resulting in potentially 50 times more avoided emissions.
The root of the matter: carbon sequestration in forests and peatlands