Prince Charles brokers $1bn deal to save Indonesian rainforests

[depakid]

Some of the world’s most endangered rainforests will be saved under a $1 billion deal inspired by the Prince of Wales, due to be announced today.

Indonesia, the country with the highest rate of deforestation, will sign an agreement under which it will stop issuing new licences for forest clearance and establish a new unit to tackle illegal logging.

The deal, which follows a rainforest summit hosted by Prince Charles at St James’s Palace last year, will test the principle of rich countries paying developing nations not to cut down their trees. Norway has agreed to give Indonesia $1 billion (£690 million) in return for a commitment to “a two-year suspension on all new concessions for conversion of peat and natural forest”.

A draft of the agreement, obtained by The Times, also sets out measures for protecting prime rainforest permanently, subject to the United Nations reaching agreement on annual payments to Indonesia. An independent inspection system will verify that Indonesia is abiding by its commitments The deal will be signed at a meeting on deforestation in Oslo attended by 50 heads of state and environment ministers as well as Prince Charles and the international financier George Soros.

he Prince will remind leaders of the link between climate change and deforestation, which contributes up to a fifth of global greenhouse gas emissions. The Prince’s http://www.rainforestsos.org/">Rainforests Project published a plan last November for a €25 billion (£21 billion) fund to reduce the rate of deforestation by 25 per cent by 2015. Today’s agreement marks the first stage of the plan’s implementation.

More: http://www.timesonline.co.uk/tol/news/environment/article7137481.ece

[Captain Hilts]

1. Kudos to Chuck. Well done! nt

[xchrom]

2. Bravo Princess Charles!!! nt

[Tumbulu]

3. I continue to be a fan of Prince Charles

when is his mother ever going to retire so he is made King? How many organic farmers are also kings?