Indonesia and Norway have agreed to start a new partnership to reduce carbon emissions from deforestation in the Southeast Asian country, officials said on Monday, after Jakarta ended a similar pact last year citing a lack of payments.
Indonesia, home to a third of the world's rainforests, has lost large swathes of forest due to the expansion of crops such as palm oil but the government has said the deforestation rate has slowed and that balance is needed to allow development.
Eide said Norway would disburse contributions based on verified emission reductions from deforestation and forest degradation in 2016 to 2020 under the existing measurement, reporting and verification protocol. The first such payment amounting to $56 million for emission reductions in the August 2016 to July 2017 period, could be paid once a contribution agreement is established, Eide said.
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