PwC: Accounting details need to be reached for success at Copenhagen

PricewaterhouseCoopers global leader of climate change said accounting
details need to feature in a deal to reduce emissions from deforestation and
degradation (REDD) which took place yesterday.

Richard Gledhill, also head of carbon markets at PwC, blogged from the global
climate change summit in Copenhagen that a meeting on REDD went into the early
hours of Tuesday morning.

He added: “Accounting details, such as how the baselines are used and set,
will be key issues that need to feature in a REDD deal.”

Gledhill said there were “key sticking points” but that they were close to
being resolved and hoped a deal would be announced by the end of the week but
added it was not clear whether or not an agreement had already been made.

He speculated a REDD deal is expected to emerge from Copenhagen even if an
overall climate agreement isn’t reached.

Further reading:

PwC:
Emission reduction target not enough

Calls
for global standard on carbon reporting grow