Indonesia to get first payment from Norway under $1b REDD+ scheme

 

 Indonesia to get first payment from Norway under $1b REDD+ scheme

by Hans Nicholas Jong on 20 February 2019

The two countries signed the $1 billion pact in 2010, under the REDD+ (reducing emissions from deforestation and forest degradation) mechanism. In exchange for the funding, Indonesia would have to slow its emissions from deforestation, which accounts for the bulk of its CO2 emissions.

Editors note : Australia in the mid 2000 gave Indonesia $100 million to save the forests and the same amount o PNG. Both monies were spent without any gains to the environment . Norway proceeded very carefully to avoid corruption insisting on mapping exercises first

 

  • Indonesia and Norway have agreed on a first payment from a $1 billion deal under which Indonesia preserves its rainforests to curb carbon dioxide emissions.
  • The agreement comes nearly a decade since the deal was signed in 2010, with the delay attributed largely to the need for legislation and policy frameworks to be put in place, as well as a change in the Indonesian government since then.
  • The amount of the first payment still needs to be negotiated by both sides, with Indonesia pushing for a higher valuation than the $5 per ton of carbon dioxide equivalent that Norway paid Brazil under a similar deal.
  • Indonesia still has work to do to ensure a consistent pace of progress and tackle the forest fires that account for much of the loss of its forests.

JAKARTA — It’s taken nearly a decade, but Indonesia is finally set to receive the first part of a $1 billion payment pledged by the Norwegian government for preserving some of the Southeast Asian country’s vast tropical rainforests.

Indonesia’s environment minister, Siti Nurbaya Bakar, and her Norwegian counterpart, Ola Elvestuen, made the announcement in Jakarta on Feb. 16. The payment, whose amount is yet to be determined, is for Indonesia preventing the emission of 4.8 million tons of carbon dioxide equivalent (CO2e) through reducing its rate of deforestation in 2017.……………………

This is an abridged version of the story. Click on the link below for full details

https://news.mongabay.com/2019/02/indonesia-to-get-first-payment-from-norway-under-1b-redd-scheme/

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