Australia and Malaysia to protect forests as carbon offsets

An Australian company, Shift2neutral, has signed a deal with Malaysian tribal leaders to protect forests as carbon offsets, a deal that will benefit both parties. The deal, set for 100,000 hectares of forest on the Island of Borneo, will allow tribes to earn a share of the proceeds from the sale of carbon offsets, potentially worth millions of dollars.

The project is part of the United Nations-backed reduced emissions from deforestation and degradation (REDD). It aims to improve the lives of some 10,000 Malaysians across 24 tribes living near diminishing tropical forest. The deal adds an incentive to protect the forest, as preserving the remaining tropical forest in developing countries is key to mitigating the effects of climate change.

REDD also is involved in neighboring Indonesia. People are awarded carbon-credit payments in return for protecting native forest. In the future, long-term management plans will be developed to ensure the success of the programs. Illegal logging activities, among others, are threats to the future of these forests.

Full story at Ecoseed