Indonesia Agrees to Curb Commercial Deforestation

See excerpt from Asia Pacific, NYT:

Indonesia Agrees to Curb Commercial Deforestation

Indonesia has declared a two-year moratorium on clearing natural forests as part of a billion-dollar deal aimed at reviving efforts to fight climate change after the collapse of global talks in Copenhagen last year.

The deal, signed Wednesday at a climate conference in Oslo, is open to other countries and would tie the $1 billion in funding to “verified emissions reductions” as part of the United Nations-backed effort known as Reduced Emissions from Deforestation and Forest Degradation, or REDD. Under the plan, rich countries help pay for the preservation of forests in developing countries.

REDD projects are widely seen as among the most promising avenues for fighting climate change ever since nations failed to reach an agreement on climate change in Copenhagen last December. Indonesia’s part in this deal involves banning new permits for the conversion of virgin forest and carbon-rich peat lands, though analysts say any new laws limiting commercial clearing could prove difficult to enforce.

The clearing of forests for commercial uses has helped make Indonesia the world’s third-largest greenhouse gas emitter, behind the United States and China, according to some estimates. The country has major timber and paper industries and is the world’s leading producer of palm oil.