Word: benefiting
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...climate policy for the New York City-based Natural Resources Defense Council. "It will be a major focus." For international companies looking to invest in REDD projects, there's another reason for signing up. Not only can they bank carbon credits for future use, but there's a p.r. benefit that comes from protecting an endangered tropical forest that might not come, say, from cleaning up a chemical factory in China (even though the value to the climate is identical). That bonus appeals to corporations like AEP, which provided the bulk of the funding for Noel Kempff...
...forest won't go up in flames in a few years, or even be logged, rendering the credits useless? And if a REDD project succeeds in preventing a vulnerable forest from being ruined, won't loggers just move down the road, or to another country - again, with no net benefit for the climate...
Most importantly, the tropical nations that stand to benefit most from avoided deforestation began to make their voices heard in international climate talks, thanks to innovative leaders like Papua New Guinea's Kevin Conrad, one of TIME's Heroes of the Environment. That has prompted big rain-forest nations like Indonesia and Brazil, which were initially suspicious of exposing their sovereign forests to an international carbon market, to rethink REDD. Last month, representatives from a handful of Indonesian and Brazilian states signed a memorandum of understanding with several large U.S. states - including California, which has already adopted a carbon...
...leading the way. In northern Victoria state, the government has launched a five-year, $1.3 billion project that will overhaul the region's century-old irrigation system, using computer-controlled channels that should significantly cut down on water waste, which today can reach 30%. "It's extracting the most benefit we can from the water we have," says Murray Smith, who heads the Northern Victoria Infrastructure Renewal Project. (See pictures of Australia, the driest inhabited continent...
...When he went so far as to propose a "no first-strike" nuclear policy--matching India's stance but violating his own military's stated doctrine--Indians began to believe that at long last they had found a Pakistani ruler who understood that normalizing relations would be of great benefit to Pakistan itself. But the Mumbai terrorist assault seemed to confirm that the peacemakers in Islamabad are not the ones who call the shots...