After a decade of talks a plan to unlock billions of dollars to protect great rainforests, improve living conditions for indigenous communities and help fight climate change has been settled. Source: The Australian
Saving equatorial forests has been identified as the most effective way to achieve quick results on limiting global carbon dioxide emissions.
The forest plan, known as REDD-plus, is a direct action-style scheme under which countries in Africa, the Amazon Basin and Southeast Asia are rewarded financially for protecting biodiversity.
The financial benefits of REDD-plus (Reducing Emissions from Deforestation and forest Degradation) recognise more than carbon storage and include other environmental services provided by the forests and social benefits.
Under the rules agreed to at the UN climate change conference in Bonn, companies can access the scheme to offset their carbon emissions liabilities.
The rights of traditional forest owners are also recognised.
Global deforestation accounts for more than 20% of the world’s human carbon dioxide emissions.
A statement issued in Bonn said all major elements of REDD-plus had been agreed to. The final three outstanding items had been about safeguards, non-carbon benefits and non-market approaches.
