Bali: Consensus to Fight Deforestation

NUSA DUA, Indonesia (Reuters) - Climate talks in Bali reached a deal on Friday to tackle greenhouse gas emissions from deforestation, hailed as a sign of developing nations’ commitment to fighting global warming.

The breakthrough might eventually allow poor but forested nations to turn conservation into a tradeable commodity, with the potential to earn billions of dollars selling carbon credits.

But one of the scheme’s key architects warned that, if successful, it will create such large emissions reductions that carbon markets could collapse unless rich nations take on more stringent reductions targets.

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