Malaysia: Tribal leaders to protect 100,000ha of forest in carbon offset deal with Australian company
(Reuters) - An Australian carbon services company has signed a deal with nine Malaysian tribal leaders to certify carbon offsets from a project aimed at preserving more than 100,000 hectares of tropical forest.
The deal allows the tribes in Sarawak state on the island of Borneo to earn a share of the proceeds from the sale of carbon offsets to help them manage and protect the forest over a period of 20 years, payments potentially worth millions of dollars.
Forests soak up large amounts of carbon dioxide, the main greenhouse gas blamed for global warming, and preserving the remaining tropical forests in developing countries is seen as a key part of the fight against climate change.