By quantifying the impact
of international trade on ecosystem services, the research team, led by Assistant Professor Roman Carrasco from the Department
of Biological Sciences at the NUS Faculty
of Science, showed that tropical countries are severely underpricing the
agricultural commodities they produce, and thus effectively subisidising
consumption by importing countries.
Looking forward, things to watch include: the impact
of economic recovery on
commodity prices and
agricultural expansion for food and biofuels production; large - scale land acquisition by foreign nations and corporations in tropical countries; climate negotiations and the REDD mechanism, including controversies over land rights, «offsetting», forest definitions, and sustainable forest management; the emergence
of payments for ecosystem services beyond REDD; the cap - and - trade versus carbon tax schemes; efforts to address the demand side
of deforestation — notably
consumption; emerging certification systems for
agricultural and forestry products (i.e. RSPO, Aliança da Terra, FSC, etc); and Brazil's progress in meeting its deforestation reduction targets.