'Offsetting' Campaign To Save Forests To Be Announced At Rio+20

13 June 2012

Five major corporations will join the emergency campaign to save the world's threatened forests by pledging to buy REDD multimillion dollar credits from projects protecting threatened forests around the world, the campaign announced Tuesday at the U.N. Conference on Sustainable Development, commonly known as Rio+20.

REDD credits, sold in carbon markets, are "offsets" because they allow the purchaser, say, a coal company, an electric power plant, or a cement manufacturer in an industrialized nation to emit more tons of CO2 than they would otherwise have permitted.