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Developing nations join Western countries for Forest Investment Program
02/11/2009
Five Western nations and six developing countries have joined for the first meeting of the Forest Investment Program (FIP), which hopes to reduce deforestation and instead encourage investment in forestry.
Australia, Denmark, the UK, the US and Norway joined Brazil, India, the Democratic Republic of Congo, Nepal, Romania and Morocco to discuss how countries will be selected to benefit from their efforts.
The FIP hopes to combat the effects of climate change through investment in forestry and met for their initial discussion on Thursday 29 October. Brazil’s representative at the meeting explained, "this new program will provide much-needed upfront investment to developing countries and forest-dependent communities to help them prepare for and benefit from financial flows for the sustainable management of forests."
It is hoped that with this new cooperation, deforestation can be reduced dramatically, helping forestry communities and significantly cutting carbon emissions. Deforestation is currently rising by 5 per cent each decade and is responsible for 20 per cent of annual carbon emissions.
The UK secretary of state for international development was quoted in a statement from the World Bank last week, saying that deforestation “is a global tragedy, destroying the homes and livelihoods of some of the world's poorest people.”
Australia, Denmark, the UK, the US and Norway joined Brazil, India, the Democratic Republic of Congo, Nepal, Romania and Morocco to discuss how countries will be selected to benefit from their efforts.
The FIP hopes to combat the effects of climate change through investment in forestry and met for their initial discussion on Thursday 29 October. Brazil’s representative at the meeting explained, "this new program will provide much-needed upfront investment to developing countries and forest-dependent communities to help them prepare for and benefit from financial flows for the sustainable management of forests."
It is hoped that with this new cooperation, deforestation can be reduced dramatically, helping forestry communities and significantly cutting carbon emissions. Deforestation is currently rising by 5 per cent each decade and is responsible for 20 per cent of annual carbon emissions.
The UK secretary of state for international development was quoted in a statement from the World Bank last week, saying that deforestation “is a global tragedy, destroying the homes and livelihoods of some of the world's poorest people.”
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