A group of 35 nations have agreed to a plan that aims to reduce global deforestation by 25% by 2015, The Guardian reports. The price tag for it all could run as high as $36 billion over the next five years. Now who will pay for it all?The announcement by Prince Charles was made at a meeting at St James' Palace, London, where the Prince praised the members of the Informal Working Group saying, "We have arrived at a consensus on how emergency funding might be deployed in the near future."
The new protection plan will reward countries on a performance basis, based on changes in national deforestation rates. Payments would be made after agreed targets had been achieved. And presumably third-party verified...
US Offers $275 Million For Forest Protection Next Year
Funding would initially be sought from governments, with the United States agreeing to contribute $275 million into a forest protection fund in 2010. The US pledge was announced in a letter from Sen. Patrick Leahy of Vermont to Prince Charles, and would be used "to protect biodiversity and support sustainable landscapes...with a focus on protection of tropical forests." (Reuters
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