Following the decision of the United Nations Framework Convention on Climate Change on revised accounting rules from soils and forests adopted in December 2011, the EU seems to determined to close the gap in common accounting in its climate policy. As the European Commission (EC) has adopted a new proposal on accounting of greenhouse gases emissions, it “has taken a first step towards incorporating removals and emissions from forests and agriculture into the EU's climate policy”, says the EC Press service.
According to the EC, this will provide new opportunities. Notably, it will reward farmers for their contribution in the fight against climate change in the context of the common agricultural policy. Speaking of Durban, Commissioner for Climate Action, Connie Hedegaard says that “[..] all countries agreed revised accounting rules for these sectors" and "[t]he EU is now delivering with this proposal. He also highlights that this initiative “will also contribute to protect biodiversity and water resources, support rural development and have a more climate-friendly agriculture."
Source: European Commission