A forest conservation project backed by Shell, Gazprom Market and Trading and the Clinton Foundation on the island of Borneo has won approval under a carbon accounting standard, reports Reuters.
The Rimba Raya project, which covers nearly 100,000 ha (250,000 acres) of peat forest in Indonesia's Central Kalimantan province, could reduce projected emissions by 75 million metric tons over the next 30 years, generating hundreds of millions in carbon finance under the reducing emissions from deforestation and degradation (REDD) program backed by the U.N. and World Bank.
