The Guardian

The world is heading for an “ecological credit crunch” far worse than the current financial crisis because humans are over-using the natural resources of the planet, an international study warns today.

The Living Planet report calculates that humans are using 30% more resources than the Earth can replenish each year, which is leading to deforestation, degraded soils, polluted air and water, and dramatic declines in numbers of fish and other species.

The World Bank is planning a US$250 million fund to aid developing countries to stop deforestation in return for carbon credits. The plan has attracted international support and the World Bank will chose five countries to launch the pilot stage of the project to.

One of the priorities for the Intergovernmental Panel on Climate Change is to encourage forest conservation initiatives by including deforestation projects into the UN’s Clean Development Mechanism and emission trading schemes.

Planet Ark

Norway will donate US$1 billion to Brazil’s Amazon protection fund through 2015, Norwegian Prime Minister Jens Stoltenberg said on Tuesday, to help Brazil fight deforestation.

Guardian

The rush to protect forests as a way to tackle global warming could see billions of pounds handed over to corrupt politicians, criminals and polluting industries, experts have warned.

The Globe and Mail

British Prime Minister Gordon Brown announced the creation of the Congo Basin Forest Fund, with roughly equal contributions from Britain and Norway totalling $215-million.

The basin represents about a quarter of the planet’s remaining rain forest cover, and the United Nations Food and Agricultural Organization has estimated that deforestation is reducing its size annually by 940,000 hectares or roughly 1 per cent of its total.

Green Biz

Paper use seems to often get forgotten in the fight against climate change. Yet between deforestation and the energy put into processing and transporting paper, our excessive use of it creates massive contributions to climate change.

This article looks at a large European campaign to reduce paper use on the continent, an important step to fighting climate change.

Article discusses investment bank giant Merill Lynch’s decision to adopt avoided deforestation as a means of offsetting carbon usage. This is a big step, as many view avoided deforestation as a controversial practice, but many reputable organizations – including Zerofootprint – believe it is an important practice, integral to reducing global levels of atmospheric CO2.

Forest fires have been an ongoing problem in Indonesia. The country and its neighbours not only have to deal with the natural dry-season blazes, but also intentional burning started by palm oil companies and plantations. The government is urged to enforce stricter laws for these violators.

The conversion of Sumatra’s natural forests into pulpwood and palm oil plantations will accelerate greenhouse gas emissions and push endangered species closer to extinction, reports the WWF.