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COPENHAGEN: A plan to protect the world's biologically rich tropical forests was shelved early Saturday after world leaders failed to agree on a binding deal to reduce greenhouse gas emissions.
Delegates scrapped plans for a comprehensive climate agreement that would have included the deal to pay poor countries to protect their forests. The program is known as REDD for Reducing Emissions from Deforestation and Degradation.
"It's depressing," he said. "It means I've got to spend another year ... coming to meetings and talking about the same things."
About 32 million acres (13 million hectares) of forests are cut down each year -- an area about the size of England or New York State, according to the Eliasch Review. Deforestation for logging, cattle grazing and crops has made Indonesia and Brazil the world's third- and fourth-biggest emitters.
"The failure of the UN process to agree on a system to fund and regulate the protection of the world's forests means that business as usual logging and forest conversion will continue," said Stephen Leonard of the Australian Orangutan Project. "No treaty means that forest destruction will continue unabated, forest dependent peoples rights will not be protected and endangered species will continue down the path to extinction."
REDD would be financed either by wealthy nations or by a carbon-trading mechanism - a system in which each country would have an emissions ceiling, allowing those who undershoot it to sell their emissions credits to over-polluters.