News / #mangroves
Construction of Indonesia’s vast new capital city on the east coast of Borneo has prompted a surge in port traffic in Balikpapan Bay, elevating existing pressures on the belt of mangroves lining the inlet.
The country aims to bring thousands of hectares of mature mangroves into its new carbon market, but local communities are concerned about the consequences.
Drilling for oil and gas in the Tun Mustapha Marine Park in Borneo would risk 45,000 hectares of reefs and the livelihoods of 85,000 people, Rimbawatch warns. An impact assessment is not available. Petronas, part of a group of firms involved in the venture, declined to comment.
Citing estimates, former central banker Ravi Menon says a carbon price of just US$20 per tonne could halve Southeast Asia's deforestation rate. At the Unlocking capital for sustainability 2024 summit, he cautioned that Asia cannot compromise on emissions cuts even as it pursues growth. The loss of carbon sinks has "serious implications".
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