Panama and Guyana are ready

07-03-2009 | AP

A climate change initiative will pay tropical countries to conserve their forests

Panama Star PANAMÁ. The World Bank's Forest Carbon Partnership Facility (FCPF) has approved readiness plans (R-Plans) for Panama and Guyana, and rejected a plan for Indonesia, reports the UN and the Bank Information Center, an advocacy group.

Readiness plans are the first step toward a country qualifying for payments under the proposed Reducing Emissions from Deforestation and forest Degradation (REDD) mechanism, a climate change mitigation scheme that would pay tropical countries for conserving their forests.

The details of REDD are expected to be hammered out this December at the UN Framework Convention on Climate Change meeting in Copenhagen.

Plans by Guyana, Panama and Indonesia were presented to the FCPF's Technical Advisory Panel earlier this year but all three were found to be incomplete in their analysis of the drivers of deforestation.

After modification, the plans by Guyana and Panama were approved, while Indonesia's plan was sent back for revision.

Deforestation accounts for nearly a fifth of global greenhouse gas emissions, a share greater than all the world's planes, trains, ship, cars, and trucks combined.

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WHAT IS REDD

A program by the UN to assist developing countries in their efforts to reduce emissions from deforestation and forest degradation.

Will provide financing for the sustainable use of forest resources and biodiversity conservation.

37 countries participate in the program. Panama’s participation is managed by the National Authority of the Environment.