By Chris Lang, 28th May 2010
Here’s a copy of the Letter of Intent (pdf file 1.5 MB) signed yesterday by Norway’s Minister of the Environment and International Development Erik Solheim and Indonesia’s Foreign Minister RM Marty M. Natalegawa. One billion dollars sounds like a lot of money, but it’s worth putting in perspective.
In 2010 alone, Norway will invest US$21.7 billion in its petroleum industry, including oil exploration. Every day, Norway produces 2.2 million barrels of oil. Oil production is declining, according to the Ministry of Petroleum and Energy, but gas production is increasing. This then is where Norway’s money comes from. Similar to its dual role in Amazon conservation and destruction, Norway is simultaneously ensuring that climate change gets worse, while claiming to address climate change through financing REDD.
Will the Norway-Indonesia forest deal at least reduce deforestation in Indonesia? Not very likely, at least judging from the Letter of Intent.
Click here to read more:
“Up for Grabs: Deforestation and Exploitation in Papua’s Plantations Boom“
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