Financial Soultions: Prince Charles announces scheme to reduce rainforest destruction.

Nov. 22, 2009 - PRLog -- The war against the destruction of tropical rainforests saw new allies join as a five year emergency funding program backed by 35 governments from around the globe was recently announced by the Prince of Wales in St James’s palace in London, Financial Soultions has been informed.

The new scheme aims to raise initial finance of between $20.05 billion (£13.5 billion) and $32.5 billion (£22billion) by 2014 from participating governments, with the U.S. already having pledged a $275 million (£165 million) contribution for 2010 with the project seeking to achieve a 25% reduction in annual global deforestation amounts by 2015. Deforestation internationally, Financial Soultions research indicates, is thought to be responsible for nearly one fifth of global CO2 emissions.

A financial proposal put together by the Prince’s Rainforest Projects Initiative, which was established 2 years ago to come up with a plan to make forests more lucrative alive than dead to developing nations, led to the creation of an Informal Working group being established by global leaders earlier in the year.

To date, logging, agriculture and palm oil farming have yielded higher economic rewards than maintaining the forest, Financial Soultions believes, but the new initiative will see developing nations being rewarded for decreasing the amount of trees cut down, with funds paid out on the achievement of pre-agreed targets.

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