A groundbreaking deal recognizing the economic value of intact forests will not only preserve a million acres of rainforest in Guyana but establish a precedent for future such arrangements.
"A deal has been agreed that will place a financial value on rainforests – paying, for the first time, for their upkeep as "utilities" that provide vital services such as rainfall generation, carbon storage and climate regulation.
The agreement, to be announced tomorrow in New York, will secure the future of one million acres of pristine rainforest in Guyana, the first move of its kind, and will open the way for financial markets to play a key role in safeguarding the fate of the world's forests.
The initiative follows Guyana's extraordinary offer, revealed in The Independent in November, to place its entire standing forest under the protection of a British-led international body in return for development aid.
Hylton Murray-Philipson, director of the London-based financiers Canopy Capital, who sealed the deal with the Iwokrama rainforest, said: 'How can it be that Google's services are worth billions but those from all the world's rainforests amount to nothing?'
Guyana, sandwiched between the Latin American giants Venezuela and Brazil, is home to fewer than a million people but 80 per cent of its land is covered by an intact rainforest larger than England. The Guiana Shield is one of only four intact rainforests left on the planet and at its heart lies the Iwokrama reserve, gifted to the Commonwealth in 1989 as a laboratory for pioneering conservation projects.
Iwokrama, which means "place of refuge" in the Makushi language, is home to some of the world's most endangered species including jaguar, giant river otter, anaconda and giant anteater.
The deal, drawn up by the international firm Stephenson Harwood, is the first serious attempt to pay for the ecosystem services provided by rainforests."
FULL STORY: Million acres of Guyanese rainforest to be saved in groundbreaking deal

Trump Administration Could Effectively End Housing Voucher Program
Federal officials are eyeing major cuts to the Section 8 program that helps millions of low-income households pay rent.

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Ken Jennings Launches Transit Web Series
The Jeopardy champ wants you to ride public transit.

Making Mobility More Inclusive
A new study highlights the challenges people with disabilities continue to face in navigating urban spaces.

Texas Bills Could Push More People Into Homelessness
A proposal to speed up the eviction process and a bill that would accelerate enforcement of an existing camping ban could make the state’s homelessness crisis worse, advocates say.

USGS Water Science Centers Targeted for Closure
If their work is suspended, states could lose a valuable resource for monitoring, understanding, and managing water resources.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Heyer Gruel & Associates PA
Ada County Highway District
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Toledo-Lucas County Plan Commissions
Salt Lake City
NYU Wagner Graduate School of Public Service