Yahoo News 10 Dec 07;
Norway will spend three billion kroner a year to help prevent deforestation in developing countries, Prime Minister Jens Stoltenberg said on Sunday.
"Norway is ready to increase its part in fighting deforestation in developing countries to some three billion kroner (375 million euros, 548 million dollars) a year," Stoltenberg said in a statement.
"This could yield significant and rapid reductions in carbon dioxide emissions at a low cost," he said, adding that deforestation in developing countries was responsible for about 20 percent of the world's carbon dioxide emissions.
The Norwegian initiative is due to be announced this week at the climate change conference underway in Bali.
Government officials from about 190 nations are in Bali to lay the groundwork for a new international initiative that will help combat the threat posed by climate change after the current phase of the existing treaty, the Kyoto Protocol, expires in 2012.
