Cialis
Cialis

Indonesia gets US climate funds

The United States will spend $136 million over three years on environment and climate change programs in Indonesia, according to a statement issued by the White House on Monday.

The agreement between two of the world’s biggest emitters of planet-warming greenhouse gases follows Norway’s $1-billion commitment in May to environmental programs in Indonesia.

Indonesia is regarded as a key player in the fight to slow climate change because its tropical forests and carbon-rich peatlands trap huge amounts of carbon dioxide but its rapid deforestation rate has sparked concern among environmentalists.

As trees grow they soak up carbon dioxide, the main greenhouse gas, and release it when they burn or rot.

The White House statement said the United States would allocate $119 million toward a partnership called SOLUSI, which stands for Science, Oceans, Land Use, Society and Innovation.

As part of the deal, the two governments would investigate the possibility of further reducing Indonesia’s debt repayments to the US on condition the money saved be spent on environmental preservation.

Clean-energy development programs and marine research would also be covered by the SOLUSI funds, the statement said.

Washington would also put $7 million toward the creation of a regional climate change center “linking science to policy on strategic priorities in the climate change area, and focusing initially on emissions from peatlands”.

A further $10 million would be set aside for “associated projects and partnerships, including public-private partnerships focused on addressing climate-related challenges in Indonesia”.

No further details were given.

President Susilo Bambang Yudhoyono has vowed to slash Indonesia’s emissions by 26 percent from projected levels by 2020 or by 41 percent with international funding and support.

Bustar Maitar from Greenpeace Indonesia welcomed the new money but called on the US to reduce its own emissions.

“Just throwing money towards Indonesia is not enough,” he said by phone. “But this shows that the US government is committed to helping Indonesia fight climate change. The commitment from Norway is also there, so now I think the Indonesian government must try to achieve the 41 percent reduction.”

Reuters

Tags: ,

Posted by VBN on Jun 30 2010. Filed under World Business. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

You must be logged in to post a comment Login

Stay informed everyday

Subscribe to free RSS and email updates from Vietnam Business News

Subscribe via Email Subscribe in a Reader Follow us on Twitter Connect on Facebook

RSS Gold price

  • Vietnam gold prices fell by VND200,000 to close at VND43.1 million a tael on Wednesday morning
  • Indian gold futures likely to open steady, copper down on Wednesday
  • Gold edged lower on Wednesday
  • Diamonds to outpace gold as spending in Asia rises
  • Gold prices slid further away from the $1,600-an-ounce level during Asian hours Wednesday
  • Chalice Gold to sell Zara stake to China’s Sfeco
  • Gold price down in Pakistan after a downfall in the world market
  • Gold price in Hong Kong went down HK$260 per tael on Wednesday

RSS Silver prices

  • India: gold, silver prices dropped further at the bullion market
  • When can I buy gold and silver? Is it on the verge of a big move?
  • How to profit from silver during crisis
  • Silver futures prices moved down by Rs 352 to Rs 52,785 per kg today
  • The gold-to-silver ratio and $200 silver
  • Reason why silver is real money!
  • Silver started the week on a bearish note by falling by Rs 50
  • Gold prices recovered, silver rates declined

Sponsored

  • Looking for an overseas forex broker?
  • Trading Point now offering Forex Malaysia and FX Japan with Forex, CFD's and Futures.