‘Brunei can tap into carbon trading’

National 1 minute, 51 seconds

BANDAR SERI BEGAWAN

BRUNEI can trade its carbon stock with countries that have high emission rates through credit transfer, said the director at Universiti Brunei Darussalam’s Institute for Biodiversity and Environmental Research (IBER).

Associate Professor Dr Kushan Tennakoon told The Brunei Times recently that carbon stock trading can bring in some additional revenue for Brunei, and UBD can aid the Forestry Department by sharing data on the country’s carbon stocks.

“Carbon trade is an exchange of credits between nations designed to reduce carbon dioxide emissions.

“The carbon trade allows countries that have higher carbon emissions to purchase the right to release more carbon dioxide into the atmosphere from countries that have lower carbon emissions. The carbon trade originated with the 1997 Kyoto Protocol,” he explained.

He added that carbon trading gives a value for the carbon that is stored in live trees.

“Some countries emit a lot of carbon. To compensate that carbon, they may make investments and set aside funds to protect existing forests in other regions, and that is the trading platform,” he said.

Dr Kushan said if Brunei’s pristine forests are maintained, systematic data gathering will be able to estimate the carbon stock available.

UBD is currently managing a number of small 0.25 hectare and a large 25 hectare forest dynamics plots at the Kuala Belalong Field Studies Centre. UBD has also recently established a 15 hectare tree plot in collaboration with the Forestry Department.

“We are collecting data in a systematic way where we are collaborating with the Centre for Tropical Forest Science at the Arnold Arboretum of Harvard University, to maintain and compare our data with other forest dynamic plots elsewhere in the world.

“This means data generated will be immensely beneficial for future carbon trading initiatives for the government. To trade in our forest resources or our carbon stocks, we have to validate how much carbon we have in our forests,” he said.

While there is a potential to trade Brunei’s carbon stocks, the senior academic said it has to be done through government agencies. “We can assist in this initiative in the future by providing a wealth of information that we have generated over many years to develop this carbon stock.”

The Brunei Times