23 December 2013
Growing money over trees is now possible. Pakistan just made it to the list of countries who will earn money from the World Bank's Readiness Fund for preserving their forests. After a tough competition at Geneva, Switzerland, Pakistan successfully defended its case of Readiness Preparation Proposal (R-PP) and secured $3.8 million from the Forest Carbon Partnership Facility (FCPF) of the World Bank to combat climate change.
Pakistan is among eight countries, out of 27 in race, who has been added to get the REDD+ (Reducing Emission from Deforestation and Forest Degradation) funds. REDD+ is the UN led mechanism which helps countries earn dollars by not cutting trees and saving carbon dioxide in forests. Environmental experts estimate that, if performed well with the grant, Pakistan can earn $4 - 12 billion per year for saving each ton of carbon.
Read more from the Huffington Post here.