Indonesia had finally approved the Rimba Raya Biodiversity Reserve project after years of obstacles, reported Reuters from this week’s Doha climate summit. Just under 80,000 hectares of tropical peat forest, much under imminent threat of conversion to palm oil plantations, has been set aside in exchange for carbon credits under a voluntary carbon scheme known as reducing emissions from deforestation and degradation (REDD). Major investors include Russia’s Gazprom and German insurance firm Allianz. The original 90,000 hectare project was beset by conflicting land use claims and lobbying from palm oil companies.
Meanwhile, the two-year moratorium that Indonesia had established to kickstart its REDD projects, for which Norway has pledged US$1 billion, is under seige as lawmakers threaten to freeze spending on reforestation efforts if the moratorium remains in place.
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