World Bank to raise $250M for avoided deforestation in tropics
World Bank to raise $250M for avoided deforestation in tropics
12 June 2007
published by news.mongabay.com
The World Bank will soon launch an “avoided deforestation” pilot project that will pay tropical countries for preserving their forests, reports The Wall Street Journal. The $250 million fund will reward Indonesia, Brazil, Congo and other tropical forest countries for offsetting global warming emissions.
Tropical deforestation accounts for roughly 20 percent of global greenhouse gas emissions, but slowing deforestation slows emissions of heat-trapping emissions. Researchers estimate that “avoided deforestation” schemes may be one of the most cost effective ways to slow climate change. Further, avoided deforestation offers simultaneous benefits including preservation of ecosystem services and biodiversity.
The Wall Street Journal reports that the World Bank hopes to raise most the $250 million fund from G8nations.
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