Graft Threatens Indonesia's Carbon Offset Billions. By Sunanda Creagh, Reuters, January 12, 2010. "Billions of dollars set to flood into Indonesia under a U.N.-backed forest protection scheme are at risk because of graft unless the country puts strong oversight mechanisms in place, a Report [PDF, 120 pp] released on Tuesday warned. Indonesia has the world's third largest area of tropical forest and stands to gain billions of dollars every year from a proposed greenhouse gas offset scheme called reduced emissions from deforestation and degradation (REDD) that was formalized at recent global climate talks in Copenhagen. REDD allows polluters to earn tradeable carbon credits by paying developing nations not to chop down their trees. However, a two-year study by the West Java-based Center for International Forestry Research (CIFOR) warned that past and recent cases of corruption and financial mismanagement in Indonesia's forestry sector revealed systemic weaknesses that could scuttle REDD."
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