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Environmental, Campaign & Website News > World Bank launches forest carbon fund

World Bank launches forest carbon fund

Date : 11th December 2007, Source : ENN

NUSA DUA, Indonesia (Reuters) - The World Bank on Tuesday launched plans for a $300 million fund to fend off global warming by preserving forests, but protesters said it risked turning homes of indigenous people into an asset for the rich. The new financing mechanism, launched at U.N. talks on tackling climate change, aims to turn better forest management into a tradeable commodity to try to halt destruction so rapid it accounts for around a fifth of annual carbon emissions.

Document last updated on Tuesday 30 August 2011

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