How much would REDD+ boost Philippines forest budget?

[Elizabeth Kahurani]

REDD+ could provide a huge financial boost to forest conservation plans in developing countries like the Philippines. A new study titled, Reducing emissions from deforestation and forest degradation plus (... shows that if the country was to reduce the rate of forest degradation by 5 to 15% and at the same time increase reforestation rate by 1.5% annually, Philippines could approximately sequester up to 60million tonnes of carbon by 2030. Going by the current rate of US$ 5 per ton carbon, this would translate to US$ 97 to 417 million carbon credits per year which would make a huge difference to the country’s forest budget that stood at US$ 46million in 2005 only to fall to US$ 12million in 2006. Read more