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Jakarta Post

Government delays awarding permits for REDD projects

  /   Sat, February 7 2009   /  01:06 pm

The government has decided to delay awarding permits for forestry carbon projects so it can first issue regulations that set out detailed arrangements for business mechanisms and financing schemes. Through the internationally recognized mechanism called Reducing Emissions from Deforestation and Degradation (REDD), forest-rich regions can receive funds from industrialized countries to repair destroyed forest and maintain the integrity of virgin forest. In return, industrialized countries can receive credits indicating they have lowered their emissions levels by enhancing or securing tons of carbon stocked in trees. The Forestry Ministry said many local authorities had gone too far in the carbon-trading business by offering up their forests to carbon brokers and international organizations in a bid to cash in quickly on the new scheme. "We have identified more than 20 R...