It was seen as a model of market-driven forest conservation. In 1997, three energy companies and a U.S. environmental group put up over US$10 million to save a huge swath of Bolivian forest. Their goal was not only to expand and preserve Noel Kempff Mercado National Park, with its gallery forest, rainforest and rare fauna. They also sought to help cut world greenhouse-gas emissions—17% of which stem from land clearing. And they hoped to prove such work could pay for itself. Documented greenhouse-emission cuts could be used as the basis for selling carbon credits, which, in turn, would create an economic incentive for forest protection. There was something in it for everyone. Bolivia and the companies—BP America, American Electric... [Log in to read more]
