JAKARTA — Indonesia’s Environment and Forestry Ministry and the World Bank signed a deal on Friday on the Forest Carbon Partnership Facility (FCPF), which provides an additional opportunity for the government to receive payments in exchange for reducing carbon emissions.
Under the agreement, Indonesia will be eligible to receive up to US$ 110 million for reducing carbon emissions from deforestation and forest degradation until 2025.
The results-based payment scheme seeks to advance the government’s goal of reducing carbon emissions in East Kalimantan by 22 million tons.
“This agreement is proof of the Indonesian government’s hard wor…
Keep on reading: Indonesia, World Bank strike deal on emissions reduction