30 May '14, 5pm

U.S. govt puts financial muscle behind REDD+ forest carbon conservation projects

U.S. govt puts financial muscle behind REDD+ forest carbon conservation projects

Rainforest in Sumatra. Photos by Rhett Butler The U.S. government will put financial support behind an initiative that offers finance for emissions-reducing forest conservation projects. In an announcement made during the Carbon Expo conference in Cologne, Germany, Secretary of State John Kerry said the U.S. Agency for International Development (USAID) will lend up to $133.8 million to the Althelia Climate Fund for REDD+ carbon conservation projects and "sustainable land use" initiatives like ecotourism and agroforestry. The money will effectively serve to mitigate risk of backing such projects, which have suffered from a lack of a market for carbon emissions reductions credits. USAID will cover up to half of the fund's losses if a market fails to materialize. "The income and employment generated from financed businesses will discourage further deforestation while encourag...

Full article: http://news.mongabay.com/2014/0530-usaid-althelia-climate...

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