Monday, June 11, 2007

World Bank money now grows on trees

Incentives to avoid deforestation is big business on a warming globe.

clipped from online.wsj.com
The Wall Street Journal Home Page
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World Bank Targets Forest Preservation-Climate Link

By Tom Wright
Word Count: 926

JAKARTA, Indonesia -- The global effort to stem climate change could soon include paying countries in the tropical belt to not cut down their rain forests, beginning with a World Bank pilot project.

The World Bank is planning to start a $250 million investment fund to reward countries such as Indonesia, Brazil and Congo for "avoided deforestation."

Until now, efforts under the Kyoto Protocol, the international agreement to cut greenhouse gases that contribute to global warming, have centered on reducing emissions from industries.

The Group of Eight leading nations, after meeting last week in Germany, concluded that stopping deforestation could ...

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