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US and other nations pledge billions of forestry investment
21/12/2009
Although a comprehensive agreement in Copenhagen was not made, the US and five other nations did pledge $3.5 billion over three years in forestry investment.
US Agriculture Secretary Thomas Vilsack spoke of the importance of the investment, "protecting the world's tropical rainforest is not a luxury, it is a necessity.” He noted that deforestation is the cause of 17 per cent of human CO2 emissions.
The tentative forestry agreement was struck between nations to that plan to increase investment to recognise indigenous people’s rights, protect biodiversity and introduce verification measures.
However, the pledges made are still quite a way off the targets for protecting the forests. In order to slow deforestation by 25 per cent by 2015 the world will have to invest $20 billion to &35 billion each year according to economists and scientists.
Conservationists were hoping pledges totaling around $10 billion would be made in Copenhagen. Norway already pledged $1 billion in 2008, and on top of this there were further pledges last week from the US, the UK, Australia, France and Japan.
Many developing countries are refusing to stop deforestation until richer nations pledge enough financial support.
US Agriculture Secretary Thomas Vilsack spoke of the importance of the investment, "protecting the world's tropical rainforest is not a luxury, it is a necessity.” He noted that deforestation is the cause of 17 per cent of human CO2 emissions.
The tentative forestry agreement was struck between nations to that plan to increase investment to recognise indigenous people’s rights, protect biodiversity and introduce verification measures.
However, the pledges made are still quite a way off the targets for protecting the forests. In order to slow deforestation by 25 per cent by 2015 the world will have to invest $20 billion to &35 billion each year according to economists and scientists.
Conservationists were hoping pledges totaling around $10 billion would be made in Copenhagen. Norway already pledged $1 billion in 2008, and on top of this there were further pledges last week from the US, the UK, Australia, France and Japan.
Many developing countries are refusing to stop deforestation until richer nations pledge enough financial support.
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