Indonesia, owner of the earth’s second-largest tropical forests, is preparing for earning money in carbon markets by protecting its woodlands.
It is reported that Australia and Indonesia will make a submission on using rainforests to offset carbon emissions from polluting industries at climate change talks beginning Monday 10 August, in Bonn, Germany. The joint submission to UN climate negotiations from the two countries reflects the Australian Government's desire to use Asian and Pacific forests as a cheap emissions offset for local industry through ''REDD'' - Reducing Emissions from Deforestation and forest Degradation - carbon credits. It outlines the extent to which Australia is working with Indonesia to ready the country to sell carbon credits based on carbon stored in forests, including holding ''technical sessions'' for officials on how to monitor the REDD program.
According to the report, Indonesia is taking steps to create an inventory of its trees, with which it will measure the changes in carbon stocks. Indonesia will be aided by Australia, which will provide data from overseas archives and exchange scientific information with Indonesian officials, as explained in the proposal submitted by the two nations.
Forests and peatlands in Indonesia store CO2, a greenhouse gas that is released as trees are cleared for use in furniture and to make way for palm-oil production. Negotiators at UN climate-protection talks this week in Bonn are considering awarding securities to nations in return for their saving trees. However, so far they have not agreed on how to reward preserving tropical woods whose destruction accounts for almost a fifth of greenhouse-gas output gas each year.
There have been different views on this forest carbon credit plan. Norway has suggested a mixture of using carbon markets and supporting forestry work with international funds. Brazil opposes the use of carbon credits while other forest nations such as Papua New Guinea support a market-based approach.