World Bank: Funding Forest Protection Scheme

The President of the World Bank has announced a new Forest Carbon Protection scheme, aimed at preserving forests and reducing global warming.

A $4 million fund has been set up to pay countries and/or companies that are currently logging to abandon their initiatives – a kind of compensation if you will. Not only will this help preserve biodiversity, but it will contribute to the greenhouse gas initiative as part of the Kyoto Protocol, as currently deforestation accounts for 20% of the total emissions.

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