Indonesia issues first forest-carbon revenue rules

[Coventina]

Source: Reuters

, July 10 (Reuters) - Indonesia's forestry ministry has released what are believed to be the world's first set of revenue sharing rules governing forest carbon projects, a ministry official said on Friday.

The profit-sharing rules will help clear up important questions over Indonesia's release in May of the world's first set of formal regulations on a U.N.-backed scheme called reducing emissions from deforestation and degradation, or REDD.

The rules in May governed who could carry out a REDD project and in which type of forest. The revenue sharing rules were expected to take up to six months and heavily involve the Finance Ministry.

"Yes, this is the distribution of the profits," said forestry ministry spokesman Masyhud who, like many Indonesians, goes by one name. "We released this regulation to avoid a long, bureaucratic process."


Read more: http://www.reuters.com/article/homepageCrisis/idUSJAK485584._CH_.2400