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