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resident Susilo Bambang Yudhoyono has signed a presidential decree for the establishment of a long-awaited national agency on Reducing Emissions from Deforestation and Degradation (REDD+), which looks set to implement a two-year forest moratorium extension.

The establishment of the ministerial-level agency, according to a press release from the Cabinet secretary'€™s office on Friday, is part of the government'€™s commitment to alone reduce emissions by 26 percent by 2020 or by 41 percent with the help of international entities, as promised by Yudhoyono in 2009.

REDD+ is an alternative mechanism to cut global carbon dioxide emissions in developing nations. Under the scheme, forested nations receive financial incentives for protecting their forests. The '€œplus'€ in the program'€™s name refers to
additional financial incentives given to countries that launch projects to plant trees, conserve forest areas or increase carbon retention.

The new agency will focus on monitoring, reporting and verifying emission reductions related to forestry, and manage the incentives disbursements from developed countries. It will also coordinate the nationwide REDD+ road
strategy alongside other ministries and institutions.

'€œOne of its tasks is to monitor the REDD+ agreement between the Indonesian government and the Norwegian government,'€ the statement read.

Norway has agreed to hand over US$1 billion worth of aid in increments to reduce emissions from the destruction of forests and peatland.

'€œThe process of establishing the new agency has been long and complex. It is hoped that it will improve the prosperity of local people and customary societies whose lives depend on the forests,'€ presidential special staffer on
climate change, Agus Purnomo, said in the statement.

He said he hoped the establishment of the REDD+ agency would inspire confidence among the international community to invest in Indonesia'€™s forest ecosystem, which is unique and important to the world'€™s climates.

The REDD+ agency will take over the duties of the now defunct REDD+ task force, which was scrapped by the President in late June, in line with the government'€™s plan to create an official national agency to implement REDD+.

The statement said the formation of the agency'€™s members would be decided within the next few weeks.

However, the Forestry Ministry'€™s general-secretary, Hadi Daryanto, said earlier the REDD+ agency would not be empowered to take action; it would only be able to report on emission reduction projects and/or any program irregularities to relevant ministries.

The agency, he said, would also not be charged with managing forest assets, as that was the purview of the Forestry Ministry.