Climate Talks Near Deal to Save Forests

Negotiators in Copenhagen are putting the final touches on a sweeping deal that would compensate countries for preserving forests. A final draft of the agreement will be given to ministers today, the New York Times reports. A signed agreement, which could be one of the most significant accomplishments of the talks, could be achieved by week's end. Environmentalists hope the final draft will include other carbon-storing landscapes like peat bogs and oceans.

The deal will be closely watched stateside. Under the cap-and-trade system preferred by the Obama administration, firms that cannot meet their pollution limits could buy extra permits by investing in carbon-reduction programs. Preserving forests under under this deal would likely qualify.