Not Out of the Woods Just Yet

Forests are an essential part of the earth’s delicate ecosystem. But corporations and governments promote rapid cutting for profits, and more than a billion acres of forestland have been lost since 1970. Forests not only provide fuel and building products, but also protect water supplies and mitigate the effects of global warming by absorbing carbon dioxide. Biology Professor Don Melnick and conservationist Mary Pearl argue for new economic practices to ensure that forests remain a renewable resource. Opening markets and establishing a fair-value global price for wood would create incentives for small foresters, especially those in the tropics, to protect forests: A cubic meter of tropical wood costs less than $15 per in Papua New Guinea, $700 in urban US cities and more than $3000 after processing. Large tracts of tropical forests in Indonesia are slated for clear-cutting over the next decade, which could eliminate jobs and wildlife diversity. Finally, Melnick and Pearl argue that markets for trading carbon dioxide emissions credits should be extended to all nations, including those nations that refrain from cutting forests. Forests don’t have to be a casualty of progress. Reckless destruction of forests could pose health and economic consequences. - YaleGlobal