Indonesia’s forest-clearing moratorium underdelivered — but so did donors
An eight-year effort by Indonesia to protect its remaining forests contributed just 4% of its emissions reduction target, yet still yielded carbon savings worth far more than it was paid under a deal with Norway.
The 86.9 million tons of emissions reductions that Indonesia achieved from keeping its forests standing between 2011 and 2018 represents just 4% of its reduction target under the Paris Agreement, a new study calculates.
Even so, those carbon savings should have been worth $434.5 million under a deal with Norway, the study says, but the latter has to date agreed to pay just $56.2 million.
The study authors say the findings make the case for both strengthening Indonesia’s forest-clearing moratorium, and finding a carbon pricing mechanism that more fairly reflects the global benefits of mitigating climate change from reducing deforestation.
12 March 2022
