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Norway, UK, U.S. Allocate $280 Mln To Stop Deforestation

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November 20, 2013 AT 5:20 AM
The governments of Norway, Britain and the United States on Wednesday said they will allocate $280 million of their multi-billion dollar climate change finances to a new initiative aimed at halting deforestation. Agriculture drives around 80 percent of the planet's deforestation, causing nearly a fifth of global greenhouse gas emissions as forest roughly the size of Costa Rica is chopped down worldwide each year. "This isn't just an environmental issue. The U.N. summit is struggling to make progress on an effort to protect forests and cut carbon emissions, known as Reducing Emissions from Deforestation and Forest Degradation (REDD+).