Forests are major sinks for carbon and it is now well accepted that deforestation is a key source of greenhouse gas emissions and of climate change. As a result, a major initiative for reducing emissions from deforestation and forest degradation (REDD) has been set up and widely endorsed by policy-makers. A key issue is the feasibility of carbon trading or other incentives to encourage land-owners and indigenous people, particularly in developing tropical countries, to conserve forests, rather than to cut them down for agricultural or other development.

This book presents a major...