Pay poor nations to preserve rainforests: Prince Charles

March 13th, 2009 - 1:04 pm ICT by IANS  

Rio de Janeiro, March 13 (EFE) Industrialised nations should issue bonds to finance rainforest conservation and promote the development of poorer nations, Britain’s Prince Charles has said in this Brazilian city.
He suggested that the bonds be sold to private entities such as pension funds or insurance companies.

The funds raised would be donated “and not loaned” to the governments of developing countries “to pay for the service” of preserving their forests, the Prince of Wales told business leaders in a speech here Thursday.

Rainforests soak up from the atmosphere the carbon dioxide blamed by many scientists for global warming.

The donations would be paid “based on results” and more nations could be included to increase the amount of forest land that is preserved, the prince said.

The developed countries would obtain a return on their investment within a period of 10-15 years in the form of benefits such as transfers of green technology for the development of renewable energy, Charles said.

The heir to the British throne insisted that the public and private sectors must join forces to tackle the problem and that new, creative steps must be taken to preserve the rainforest.

He said that, according to the “most optimistic projections”, the world’s inhabitants had 100 months in which to alter their behaviour and prevent “inexorable climate change”.

The prince also applauded the “extremely constructive” initiatives being developed in Brazil with the aim of making it more profitable to preserve forests than to chop them down.

After his speech, Charles and wife Camilla paid a visit to a British-funded social project in a Rio “favela” or shantytown.

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