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...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 Deforestation and Degradation. With 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...

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

Then there is the problem of compliance. Who can guarantee that a "protected" forest won't go up in flames in a few years, or even be logged, rendering the credits useless? And if a REDD project succeeds in preventing a vulnerable forest from being ruined, won't loggers just move down the road, or to another country - again, with no net benefit for the climate...

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

More than a decade after Kyoto was signed, however, that opposition has eased. (The holdouts, like Greenpeace, tend to be skeptical of market-based solutions to climate change in general, not just REDD.) That's partly thanks to a better understanding that "if deforestation is 20% of the problem, it should be 20% of the solution," according to Benoit Bosquet, team leader of the World Bank's Forest Carbon Partnership Facility, which helps developing countries prepare for REDD projects. Tree-spotting has improved; Japan's alos satellite uses cloud-penetrating radar to detect deforestation even in the rainy Amazon, making...

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

Shooting guard Michael Redd, who plays for the Milwaukee Bucks, admitted LeBron's words didn't thrill all this teammates. "We wanted to take the low road, but LeBron's LeBron," Redd says. "He's going to say what we feels in his heart." But the Americans quickly got over the shock. "Look, man, LeBron is one of our leaders," says forward Carlos Boozer. "Every guy on this team backs him. He went out on a limb way back when and said, 'look, we can't be beat.'. And we weren't. So you might want to start asking...

Author: /time Magazine | Title: Delivering on LeBron's Guarantee | 8/24/2008 | See Source »

Wayne claims his rhymes are stream of consciousness, but even if they aren't, they sound as though they're hitting the air for the first time, unfolding with an electricity that's--forbid the sacrilege--Dylanesque. Redd Foxx would probably...

Author: /time Magazine | Title: Lil Wayne: The Best Rapper Alive | 7/3/2008 | See Source »

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