Indonesia and Norway set to agree on $1 billion REDD deal

Indonesia's Jakarta Globe newspaper, quoting a  senior Indonesian official, is reporting that Indonesia and Norway will sign a $1 billion agreement on REDD at Thursday's Oslo Climate and Forest Conference. 

Environment Minister Gusti Muhammad Hatta was quoted as saying that “If we get the funding from Norway, we will channel it for activities on peatland areas, considering that these areas have a bigger impact [in the release of more carbon dioxide].”

The Oslo Climate and Forest Conference aims to come up with a nonbinding framework on REDD  to be called REDD-plus Partnerships. Indonesia's President Susilo Bambang Yudhoyono will co-chair the Oslo meeting.

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