Indonesia and Norway have agreed to start a new partnership to reduce carbon emissions from deforestation in the Southeast Asian country after Jakarta ended a similar pact last year citing a lack of payments. Indonesia, home to a third of the world's rainforests, has lost large swathes of forest due to the expansion of crops such as palm oil but the government has said the deforestation rate has slowed and that balance is needed to allow development. The new forest and climate partnership encompasses a results-based model, where Indonesia sets the strategy and manages the funds, while Norway contributes annual results-based financial contributions for Indonesia's emission reductions.

Source: Reuters