The United states promised $275 million for rainforest protection on Thursday at an event hosted by Prince Charles in London.
The money will come from $1.2 billion marked for international assistance in the 2010 budget awaiting Congressional approval, according to a Reuters report.
A system for reducing deforestation in emerging countries is one likely to be one of the concrete initiatives to come out of the Climate Change Summit in Copenhagen next month. Funding for for the initiative has been a sticking point in negotiations, but the US commitment may signal that a breakthrough is taking place.
Last week Norway pledged $250 million for forest protection in Guyana. However, under the terms of the agreement, Guyana, which currently cuts very little of its forests each year, could actually increase the rate and still receive funds.
Read the Reuters article at the link below.
