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...helps that global investment in renewable energy was up 60% last year. The number of projects using geothermal power has lagged behind wind, solar and biofuels for many years. However, since 2004, projects in the U.S. have doubled, and countries such as Indonesia have set ambitious goals for geothermal generation. The financial crisis has hit the renewables sector, to be sure, but analysts say that thanks to U.S. President-elect Barack Obama's green-energy agenda, and recent G-8 goals to cut carbon emissions by 50% by 2050, the industry will come back strong. "I have people calling...

Author: /time Magazine | Title: Energy: Boiling Point | 12/4/2008 | See Source »

...timber and biofuel plantations so valuable, that means "rain forests are worth more dead than alive," says Andrew Mitchell, director of the Global Canopy Programme, an alliance of forestry institutions. But a handful of pilot projects, like the one in Noel Kempff and others in nations such as Belize, Indonesia and Madagascar, are proving the logic of paying to keep forests standing. Supporters are confident that when the world meets for the annual U.N. summit on climate change in Poznan, Poland, this month, avoided deforestation will be one of the main topics of discussion. "This is too important...

Author: /time Magazine | Title: Green Banks: Paying Countries to Keep their Trees | 12/4/2008 | See Source »

...first, skeptics also fretted that countries with high rates of deforestation - Indonesia, the Congo, Nigeria - tend to rank high for corruption, making them less-than-reliable partners. "The environmental community developed a distaste for forest offsets, for a lot of valid reasons," says Bill Stanley, director of TNC's Global Climate Change Initiative...

Author: /time Magazine | Title: Green Banks: Paying Countries to Keep their Trees | 12/4/2008 | See Source »

...importantly, the tropical nations that stand to benefit most from avoided deforestation began to make their voices heard in international climate talks, thanks to innovative leaders like Papua New Guinea's Kevin Conrad, one of TIME's Heroes of the Environment. That has prompted big rain-forest nations like 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...

Author: /time Magazine | Title: Green Banks: Paying Countries to Keep their Trees | 12/4/2008 | See Source »

...crisis is more than just Australia's problem. The collapse of the country's harvest contributed to a doubling of the price of rice this past spring, which in turn led to food riots in countries like Indonesia, the Philippines and Egypt. And that's the real impact of water scarcity--food scarcity. It takes 150 gal. of water to grow a pound of wheat, up to 650 gal. for a pound of rice and 3,000 gal. to raise the equivalent of a quarter-pound of beef...

Author: /time Magazine | Title: Dying for A Drink | 12/4/2008 | See Source »

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