Norway is to form a new partnership in a bid to fight tropical deforestation, with an additional aid package and a pledged to unblock cash.
The current Oslo climate change conference, a follow-up to last year’s Copenhagen Summit, will see developed nations forge a new alliance in the hope of adding to the USD 3.5 billion previously agreed on to fight deforestation. Norway says participating countries are expected to make further assurances which will bring the kitty closer to USD 5 billion.
The Oslo meeting, which will be attended by Prince Charles among other guests from across 50 countries, hopes to consolidate the fledgling partnership between donors and countries in need of protecting forested lands. Trees soak up carbon dioxide as they grow and help slow the raise in greenhouse gas levels.
“Reducing deforestation is the biggest, fastest, cheapest way to cut carbon emissions,” said Norwegian Prime Minister, Jens Stoltenberg. Oil rich Norway also formally announced an additional USD 1 billion aid package bound for Indonesia to protect forests in the South East Asian country, reports The Guardian.
The beginning of the relationship represents a sign of action after the Copenhagen conference failed to adequately deliver binding resolutions to address man-made emissions. The United States, Norway, Australia, Japan, France and the United Kingdom have agreed on USD 3.5 billion in forest-saving aid over the next three years.