Sunday, November 28, 2010

Selling Carbon Credits for Indonesian Forests

Trees smolder after a clearing fire near Bukit tiga puluh natural forest in Riau, Central Sumatra, Indonesia (file photo)
Indonesia has around 1 million square kilometers of forests, the second-largest in the world after Brazil.

The World Bank estimates that if the world put a monetary value on the Carbon stored in trees, Indonesia could earn up to $2 billion a year by selling Carbon Credits.

Indonesia is getting ready for an international  plan known as Reducing Emissions from Deforestation and Degradation (REDD).

Last year, President Susilo Bambang Yudoyono (SBY) has promised world leaders that Indonesia shall reduce Carbon Gas Emission by 2020 i.e 26% if we do it by ourselves, or 41% if helped by other countries.

On 26 May 2010, Norway and Indonesia has signed a US$ One Billion deal aimed at reducing Deforestation, in return Indonesia shall suspend new concession on conversion of natural forest and peat land into plantations for two years.

There are several pilot projects throughout the country, and earlier this year the Russian company Gazprom bought the first carbon credits from a REDD project.

Considering that President SBY will end his second presidential term by 2014, I hope that his successors will fulfill all the commitments that have been made.

Source :
-   Indonesia Hopes to Sell Carbon Credits for Its Forests (VOANews) 
-   Norway and Indonesia sign US$ 1 billion forrest deal (REDD Monitor)

Photo :  Courtesy of VOA News

21 comments:

penghuni60 said...

I also hope so
:D

dee said...

Thanks for share us Harry! Nice post.. if the credit's fund is really to heal our forest, and all deforestation.. to prevent Global Warming!

ReBorn said...

I also hope that this cooperation could be continued because it is important for everyone.

Fir'aun NgebLoG said...

nice post...
i like it :D

Edwin's Blog said...

President SBY has made a real action towards forest protection. Points stipulated in REDD must be fulfilled and whoever the successor of SBY must have the awareness of environmental sense.

colson said...

I share your hope.

By th way: the carbon credits' system is kind of weird, in my opinion. It is like saying: "I ( Gazprom f.i.) buy your (Indonesia) promise to leave a tree alone in return to my license to cut a tree down".

Hatta Syamsuddin said...

no one can build this country alone, just start from our self .. and keep sharing each other

H. Nizam said...

@Penghuni60,
Thank you for your comment.

@Dee,
You are welcome Deasy.
Let us hope things would be okay.

@ReBorn,
Let's hope that the implementation would be smooth.

@Fir'Aun NgebLoG,
I am glad that you like my post. Thanks.

@Edwin,
Pres SBY promised until 2020, which means that from 2014 till 2020 other president will have to fulfill his promises.

@Colson,
I agree that it's weird.
Gazprom paid money so that forest in Borneo would not be cut, in return Gazprom has carbon credit which it can offer to others.
I am still gathering details about Gazprom deal. Shall revert.

@Hatta,
You are right my friend, in this era of globalization, countries are depended on each other.

ulie said...

i hope so

Link Tea said...

Thanks friend.. it's nice post .. We all must support it

Saung Web said...

If either manage them .. God willing will benefit for the people and country

Furree Katt said...

this is great news!

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H. Nizam said...

@Ulie,
Thanks, I am glad to meet you.

@Link Tea,
I am glad you like the post. Thanks.

@Saung Web,
Yes, let's hope that our forest will only be for the best interest of the people.

@Furree Katt,
Yes it is a great news.

@Speak Easy,
I am glad to meet you. Thank you for your kind offer, hopefully would be useful for our readers.

aciid !!!!!! said...

i agree :)

H. Nizam said...

Aciid,
Efforts to prevent deforestation must be supported.

TUKANG CoLoNG said...

ayo lestarikan hutan kita! hijaukan kota..

Jhess said...

All we need is a few pilot projects like this to take off then everyone else will follow. Check out my blog I have a new Author ;)

H. Nizam said...

@TUKANG CoLoNG,
Memang harus harus ada kampanye pelestarian hutan.

@Jhess,
I agree with you. I'll check your blog again.

Yari NK said...

I agree with colson this is rather a strange deal. It is similar like this: Suppose, our fart contains substantial greenhouse gases that everybody tries not to pass it. People from Gazprom pay us, Indonesians, to hold our farts. So each fart we hold will be a lisence to someone in Gazprom to pass a fart, and we will be paid for it in return??

That's strange to me! Hehehe...

H. Nizam said...

Hi Yari,

I agree that the Gazprom deal seemed strange. I am still digging the details.

Btw, I like the way you use fart as an example he he he ....