In the Media
Bhutan: Converting green cover into greenbacks
April 27, 2012
With a forest cover of 72 percent, work is underway in the country, to have in place a mechanism that would help measure the financial value of carbon stored in the forests of Bhutan.
Having a value of the carbon stored in the forest under the UN-Reducing Emission from Deforestation and forest Degradation (REDD+) would mean financial incentives for countries like Bhutan, who protect and conserve their forests from deforestation and degradation. In a two-day meeting, forest officials are discussing the strategy Bhutan would adopt to go about establishing the mechanism and implementing it.
Chief forest officer of watershed management division Chado Tshering said incentives through REDD+ program mean establishing mechanisms to mitigate carbon emissions in that particular country. “Until now, when we discuss climate mitigation, estimation of carbon in our forest wasn’t given much importance,” he said. “But now, after implementing REDD+, we’ll be able to measure, as well as trade, carbon with other developed countries.”
Chado Tshering said the UN-REDD+ would assist in building capacity, by providing financial and technical support from UNDP’s energy, environment and disaster management program.
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Keywords: Asia, Bhutan, Forest, policy, Readiness, REDD