The China Mail - Indonesia, Norway ink deal to reward rainforest protection

USD -
AED 3.672495
AFN 63.50249
ALL 82.604372
AMD 368.069876
ANG 1.790403
AOA 916.99992
ARS 1461.503901
AUD 1.434679
AWG 1.8
AZN 1.700059
BAM 1.707839
BBD 2.019173
BDT 122.896637
BGN 1.69088
BHD 0.378044
BIF 2989.634336
BMD 1
BND 1.296533
BOB 6.91239
BRL 5.158599
BSD 1.002494
BTN 94.655909
BWP 13.605776
BYN 2.805013
BYR 19600
BZD 2.016285
CAD 1.417103
CDF 2264.999362
CHF 0.80891
CLF 0.023028
CLP 906.309758
CNY 6.774796
CNH 6.78161
COP 3440.13
CRC 454.784115
CUC 1
CUP 26.5
CVE 96.875016
CZK 21.185897
DJF 178.525487
DKK 6.54331
DOP 58.604757
DZD 133.545006
EGP 49.745801
ERN 15
ETB 159.15013
EUR 0.8754
FJD 2.24285
FKP 0.755695
GBP 0.755385
GEL 2.644977
GGP 0.755695
GHS 11.229785
GIP 0.755695
GMD 72.999896
GNF 8784.035073
GTQ 7.628428
GYD 209.275317
HKD 7.839815
HNL 26.670162
HRK 6.593101
HTG 130.960611
HUF 308.5845
IDR 17869
ILS 2.97135
IMP 0.755695
INR 94.65845
IQD 1310
IRR 1375000.000372
ISK 126.020547
JEP 0.755695
JMD 158.408737
JOD 0.709025
JPY 161.577501
KES 129.40203
KGS 87.449915
KHR 4012.500926
KMF 430.999605
KPW 900.00035
KRW 1537.979828
KWD 0.30867
KYD 0.835444
KZT 488.630447
LAK 22050.000183
LBP 89550.00026
LKR 335.219143
LRD 182.197355
LSL 16.472163
LTL 2.95274
LVL 0.60489
LYD 6.427478
MAD 9.349442
MDL 17.629557
MGA 4229.999486
MKD 53.957653
MMK 2099.917974
MNT 3579.231668
MOP 8.095209
MRU 40.069708
MUR 47.810215
MVR 15.459879
MWK 1738.365682
MXN 17.386099
MYR 4.140298
MZN 63.903112
NAD 16.472091
NGN 1368.10971
NIO 36.630142
NOK 9.72043
NPR 151.770486
NZD 1.75542
OMR 0.384502
PAB 1.000358
PEN 3.682982
PGK 4.36375
PHP 61.424993
PKR 278.150172
PLN 3.74414
PYG 6111.57296
QAR 3.645987
RON 4.584104
RSD 102.724985
RUB 74.249047
RWF 1464.5
SAR 3.753691
SBD 8.065041
SCR 13.258842
SDG 600.5051
SEK 9.639005
SGD 1.294095
SHP 0.746601
SLE 24.749964
SLL 20969.503664
SOS 572.921224
SRD 37.4305
STD 20697.981008
STN 21.6
SVC 8.771861
SYP 110.532098
SZL 16.410369
THB 33.0335
TJS 9.278635
TMT 3.51
TND 2.911501
TOP 2.40776
TRY 46.4774
TTD 6.798512
TWD 31.632401
TZS 2628.231945
UAH 45.088297
UGX 3651.795772
UYU 40.002096
UZS 11995.000532
VES 616.865275
VND 26328
VUV 118.352303
WST 2.751796
XAF 574.021212
XAG 0.015817
XAU 0.000242
XCD 2.70255
XCG 1.80679
XDR 0.713895
XOF 574.016189
XPF 104.849881
YER 238.649846
ZAR 16.43185
ZMK 9001.203866
ZMW 17.769494
ZWL 321.999592
  • CMSC

    -0.2100

    22.16

    -0.95%

  • RBGPF

    -0.2700

    60.34

    -0.45%

  • CMSD

    -0.2100

    22.08

    -0.95%

  • RYCEF

    0.2300

    18.63

    +1.23%

  • RIO

    -0.7200

    99.36

    -0.72%

  • AZN

    1.5000

    176.43

    +0.85%

  • BCE

    -0.6300

    22.65

    -2.78%

  • NGG

    1.5300

    80.97

    +1.89%

  • VOD

    -0.1800

    14.12

    -1.27%

  • GSK

    0.0700

    50.74

    +0.14%

  • BCC

    -2.1200

    72.54

    -2.92%

  • RELX

    -0.3500

    30.83

    -1.14%

  • BTI

    -0.0100

    58.9

    -0.02%

  • BP

    0.6800

    39.78

    +1.71%

  • JRI

    -0.0200

    12.65

    -0.16%

Indonesia, Norway ink deal to reward rainforest protection
Indonesia, Norway ink deal to reward rainforest protection / Photo: © AFP

Indonesia, Norway ink deal to reward rainforest protection

Indonesia and Norway signed a deal Monday to reward deforestation reduction months after the collapse of a similar $1-billion agreement that was part of a UN-backed global initiative criticised for its ineffectiveness.

Text size:

Protecting trees is key to meeting climate goals but environmentalists blame Indonesia -- home to the world's third-largest rainforest area -- for a deforestation free-for-all by allowing companies to clear land for new plantations.

Jakarta claims it has made progress by reducing the rate of primary forest loss for five straight years and Oslo will now reward it with "results-based contributions" for cutting emissions, Norway's ministry of climate and environment said in a statement.

"Today we are proud to embark on a new partnership to support the Indonesian government's impressive results and ambitious plans," said Norwegian Minister for Climate and Environment Espen Barth Eide in a statement.

But environmental activists say the deal will not change the situation in Indonesia with vast swathes of rainforest still being destroyed to make way for palm and timber plantations that threaten endangered species and push indigenous people off their lands.

"The agreement does not solve existing problems, including recognition of indigenous people," Greenpeace Indonesia forest campaigner Iqbal Damanik told AFP.

"The point made is 'successfully reducing deforestation', not zero deforestation. It means there is still deforestation in Indonesia going forward."

The countries had signed a landmark deforestation deal in 2010 with Norway offering Indonesia $1 billion to slash its emissions.

But Jakarta cancelled it last year saying it didn't see enough of the money, while research showed it only made a small dent in Indonesia's carbon-cutting targets.

Critics of the United Nations-backed REDD+ mechanism under which the deal was struck said it was ineffective and trampled on indigenous communities' rights.

Under the new agreement Norway will send Jakarta an initial $56 million payment for its deforestation reduction in the year 2016 to 2017, the statement said.

It will then pay Indonesia for years of reductions that followed after verifying the drops in deforestation, meaning it could be worth hundreds of millions of dollars to Jakarta.

Indonesia has an ambitious goal to reach a net carbon sink -- storing more carbon than it releases into the atmosphere -- by 2030 but its vast forests are still shrinking.

The country's tree cover has decreased by 18 percent since 2000, a loss that accounts for 6.5 percent of the global total since then, according to Global Forest Watch, a monitoring programme of the environmental research group World Resources Institute.

N.Wan--ThChM