These contributions will come from the international community into the Green Climate Fund, starting in 2020, for funding Climate Change programmes including REDD+, which PNG is also party to.
Forest Minister Douglas Tomuriesa gave a rundown on the status of the PNG forest and other related activities during the parliament session last week.
Tomuriesa said under the Paris Agreement on Climate Change, REDD+ will be financed by the international community based on a penalty paid by polluters based on the amount of greenhouse gas emissions into the environment.
As a net negative greenhouse gas emissions country, PNG will be eligible as a recipient of financial incentives from the Green Climate Fund (GCF).
“The Paris Agreement also includes blue carbon from the ocean. As an island nation, PNG will also benefit from blue carbon,” he said.
And while on this, Tomuriesa said the PNG Forest Authority has a corporate plan that will also deal with the latter.
“Moreover, we need to find out if the main climate change compensatory facility available to PNG, namely REDD+ (or Reduction in Emissions from the Deforestation and Degradation of Forest), is a real and genuine alternative to logging in PNG.
“If the much-touted benefits from REDD+ is real and will begin to flow, our people can keep their forests and yet receive compensatory cash incomes and other benefits by participating in the REDD+ programmes.
SOURCE: POST COURIER/PACNEWS