World Bank Will Pay Countries to Spare Trees
$250M pilot program will reward "avoided deforestation"
By Sam Gale Rosen,  Newser Staff
Posted Jun 11, 2007 10:04 AM CDT
The Monteverde Cloud Forest Reserve near Monteverde, Costa Rica. (AP Photo/Kent Gilbert)   (Associated Press)
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(Newser) – The World Bank is planning a $250-million fund to pay countries to refrain from cutting down tropical forests. The plan, which won approval at the G-8 summit last week, depends on companies to contribute to the fund, but that's not likely to happen unless rules governing carbon emissions credits are changed to include spared forests, the Wall Street Journal reports.

Deforestation accounts for 20% of global carbon emissions, mostly from fires set to clear land. The proposal is the first time "avoided deforestation" has been considered as a potential source of carbon credits; it was omitted in the Kyoto accords spelling out the rules because of concerns about enforcement.