Blog: Forests

There have been some great developments around our Congo rainforest campaign, as the FT reported on its website this morning that one of the arms of the World Bank will offload the shares it owns in a company known to be destroying the forest of the Democratic Republic of Congo (DRC).

The International Finance Corporation (IFC) has announced that it will divest its holdings in Olam International, a Singapore-based company which has operations in the DRC. The Congo report we released earlier this year showed how Olam was holding forest land granted in breach of the current moratorium which the World Bank itself helped establish and that it was also trading in dodgy timber. As a result, Olam has since given back its forest holdings to the DRC government, but it still buys illegal timber cut by local companies.

At a side meeting of the Bali climate change conference today, Greenpeace launched a new proposal that will encourage and reward countries for reducing emissions from deforestation. It's long, complex and full of acronyms but with forest destruction responsible for around one-fifth of our greenhouse gas emissions, it could represent one of the best chances we have of slashing global emissions.

It tackles a subject which is a big stumbling block in attempts to stop deforestation: money. There's not enough of it, at least not in the right places. Most countries with large tracts of forest, such as Indonesia, Brazil and the Democratic Republic of Congo, are still developing and see them as sources of much-needed finance. Even though the link between deforestation and climate change is now being widely acknowledged, these governments rarely have funds available to protect their forests.

Last night, ITV News featured an excellent report from Indonesia about palm oil and how plantations are replacing forests at a horrific rate. Shown as part of a series of reports about climate change to tie in with the Bali climate change conference, it showcases some aerial footage which clearly shows the devastation. Also featured is Hapsoro, one of Greenpeace South East Asia's forest campaigners, who was working at the Forests Defenders Camp when he was interviewed.

If you missed it, the report is available to view online - confusingly, it's on the CNN website but only because the ITV News site is so darned tricky to use.