Actually, the pledge, which was made at the 1992 Rio Earth Summit, was nothing more than convenient bywords in official speeches and statements, so much so that it was merely mentioned in the Prime Minister’s foreword to the review of the National Forestry Policy 2021 instead of being incorporated in it.I would venture to say that we are now at a crossroads.
This means that Sabah and Sarawak would be required to maintain a higher than 50 per cent target to augment the shortfall in order to keep the pledge. Therefore, a burden-sharing mechanism is urgently needed not only between the three regions but also among the states in the peninsula. EFT was introduced by the Pakatan government in the 2019 budget with an allocation of RM60mil to induce states to increase their Totally Protected Areas/Protected Areas . There was no allocation for 2020, but the amount was increased to RM70mil in Budget 2021.It has to be pointed out that payment to individual states does not go towards forest management because EFT is largely used as compensation for loss of revenue from resource extraction activities or maintaining water catchments.
REDD+ provides financial incentives to developing countries that have proved through rigorous UN-backed technical evaluation that they have halted deforestation during a period of time.
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