Forest fire in Indonesia (Photo: Indonesian President's Office) Jakarta (VNA) – The World Bank and Indonesia’ environment and forestry ministry have signed a landmark agreement on Forest Carbon Partnership Facility (FCPF) worth 110 million USD.
The move aims to support the Southeast Asian country’s efforts to lower carbon emissions due to deforestation and forest degradation between now and 2025.
The FCPF said Indonesia will receive results-based payments for reducing 22 million tons of carbon emissions in a bid to realise the national target on climate and environment.
According to Environment and Forestry Ministry Secretary General Bambang Hendroyono, the agreement aims at reducing forest degradation across 12.7 million hectares of land, and protecting biodiversity.
Besides, it will support to improve land governance and local livelihoods, while safeguarding habitats of vulnerable and endangered species by improving forest licensing, increasing the number of small-scale plantations, and promoting community-based planning.
World bank Country Director for Indonesia and Timor-Leste Saty Kahkonen said Indonesia has committed to reducing up to 41 percent of greenhouse gas emissions with international support by 2030, as well as promoting sustainable development in its plan.
The agreement will provide unprecedented support to achieve these ambitious goals, she added.
Last year, the Indonesian government approved to fund 2.1 trillion IDR (148.94 million USD) for the freshly-established Environmental Fund Management Agency. The money will be used for activities in forestry, energy and mineral resources, carbon trading, environmental services, industry, transportation, agriculture, marine and fisheries.
The government pledged to cut 29 percent of greenhouse emissions with its own efforts, and 41 percent with international support under the Paris Agreement on climate change./.
VNA
