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...take advantage of the opportunity to reduce deforestation," says Duncan Marsh, TNC's director of international climate policy. "We have no choice." That's the promise of avoided deforestation, in which rich countries pay to keep rain forests standing and receive carbon credits in return. Currently, the international carbon cap-and-trade system organized by the Kyoto Protocol only recognizes industrial projects - such as a rich country paying to improve energy efficiency at a power plant - or programs to actively reforest land already cleared. It doesn't recognize avoided deforestation - also known by the acronym REDD, for Reduced Emissions from...
...Indonesia and Brazil, which were initially suspicious of exposing their sovereign forests to an international carbon market, to rethink REDD. Last month, representatives from a handful of Indonesian and Brazilian states signed a memorandum of understanding with several large U.S. states - including California, which has already adopted a carbon cap of its own - to explore avoided deforestation projects. The possibility of tapping into California's rich carbon markets has tropical nations salivating. "Until now, no one has said to [rain-forest nations] 'We'll give you a market for your credits,' " says Dorjee Sun, CEO of the avoided-deforestation group...
...Stanasolovich, CEO of Legend Financial Advisors in Pittsburgh, is eying a few reopened funds for clients - Artisan Mid Cap Value and Schneider Small Cap Value are long-time favorites - but he's not looking to buy anytime soon. "Historically speaking, three months before the end of a recession, when things feel the worst, it's usually a good time to buy," says Stanasolovich. "I just don't think we're coming out of this recession anytime soon...
...prominent mutual funds that long ago shut their doors to new investors are reopening. It's been years since anyone without an existing account could put money into some of the best-known names in the business, like Sequoia Fund, Dodge & Cox Stock, Longleaf Partners, Fidelity Magellan, Artisan Mid Cap Value, Oakmark Equityand Income, Vanguard International Explorer and Third Avenue Small-Cap Value...
While we were talking, a filthy young man in rags approached and started distractedly unpicking the threads of a knitted woollen cap. Diar introduced "Adam," whose entire family had been cut down in front of him in 2004. Something snapped. Adam was convinced another janjaweed onslaught was imminent, and told me he was getting terrible headaches from the janjaweed horsemen galloping around in his head. He asked if I could give him a lift to his home village. "It's the time of mangoes and guavas," he said. Watching him wander off, Diar told me Adam was obsessed by memories...