Indonesia will need the help of foreign investors to restore over 2 million hectares of peatlands in Sumatra, Kalimantan and Papua. (Antara Photo/Saptono)
Peatland Restoration Agency in Search of Foreign Investors
BY :RIVA DESSTHANIA SUASTHA
SEPTEMBER 27, 2016
Jakarta. Indonesia will need the help of foreign investors to restore its peatlands, the Peatland Restoration Agency says as it calls for the recovery of over 2 million hectares of peatlands in Sumatra, Kalimantan and Papua.
"Some foreign organizations have expressed interests in aiding us with peatland restoration. We will never meet our target if we only rely on [palm oil] corporations," Peatland Restoration Agency chief Nazir Foead told CNN Indonesia on Monday (26/09).
According to Nazir, peatland restoration requires a close cooperation between the government, investors and farmers, as its sustainability relies on following existing programs on preservation, rehabilitation and land use.
Nazir said the agency has identified a host of potential donors including Tom Steyer, the Packard Foundation, the MacArthur Foundation, Goldman Sachs, the GoodEnergies Foundation and the Climate and Land Use Alliance.
The Packard Foundation and the Climate and Land Use Alliance have already declared they will donate $15 million.
"International investors want to help with restoring Indonesia's peatlands to reduce carbon emissions," Nazir said.
The World Bank estimates the initial cost for rehabilitating the 2 million hectares will be around Rp 27 trillion ($2 billion). The government plans to get the full amount in five years.