In 2010 Norway signed a $1 billion deal with Indonesia which aimed to reward the developing country for efforts that reduce deforestation, improve forest preservation, and cut carbon emissions. Home to the world’s third largest tropical forest, Indonesia is also the biggest producer of palm oil, which is linked to catastrophic deforestation and habitat destruction. Almost a decade after the deal, Norway will make the first payment for reduced emissions in response to falling deforestation rates in the Southeast Asian country. Primary forest loss in protected peat areas went down by 88 percent between 2016 and 2017, reaching the lowest level ever recorded. No details were provided on the payment amount, although green groups estimate the figure to be more than $20 million. This rewarding scheme serves as a great example of how such incentive mechanisms can work to create positive sustainable development in less developed countries that host some of the most biodiverse areas on our planet.
Norway to pay Indonesia for cutting emissions and reducing deforestation
More of Today's Solutions
Yangtze River sees major ecological recovery after China’s fishing ban
BY THE OPTIMIST DAILY EDITORIAL TEAM After decades of ecological decline, China’s Yangtze River, Asia’s longest and one of the most degraded waterways in ...
Read More10 brain-boosting hobbies for older adults that help keep the brain and body ...
BY THE OPTIMIST DAILY EDITORIAL TEAM Many people yearn for the golden years of retirement, where the grind often slows down, and we have ...
Read MoreNavigating counteroffers: a complete guide to making the right career move
Starting a job search is like stepping onto a carousel of potential opportunities. Once you secure that amazing new job offer, the excitement is palpable. But what if, just ...
Read MoreAre holiday tunes good for your health? Here’s what science says
BY THE OPTIMIST DAILY EDITORIAL TEAM Love it or hate it, Christmas music is an inescapable part of the holiday season. For some, it’s ...
Read More
