Fiji, Sept. 9 -- Pacific climate and community groups are urging leaders at the 54th Pacific Islands Forum in Honiara to rethink the expansion of carbon markets into marine environments, warning that market-based approaches fail both as a source of finance and as a tool for emissions reduction.

The Pacific Network on Globalisation (PANG) briefing paper, Blue Herrings: Carbon Market Learnings for Blue Carbon Frontiers, warns that wealthier countries are pushing market-based and debt-based solutions, crowding out political will for real emissions reductions.

"This raises credible reasons for why Pacific Island governments should halt the expansion of market-based approaches into marine environments," the briefing paper states.

PANG highl...