During climate discussions in Bali, delegates are close to finalizing guidelines for a pay-and-preserve program for forests as part of a future global warming agreement, according to Indonesia's foreign minister. The program, known as Reduced Emissions from Deforestation in Developing Countries (REDD), would allow the preservation of forests to be traded as a commodity, potentially generating significant revenue for poor nations through carbon credit trading. Scientists emphasize the importance of preserving tropical forests, as they absorb a large amount of carbon dioxide emissions, which is a major contributor to global warming and its associated consequences. Developed countries have shown enthusiasm for the role of forests in addressing climate change, as stated by Indonesian Foreign Minister Hassan Wirajuda. Developed countries and countries with large forest areas have agreed to work together to create a world map with the participation of not only governments, but also institutions such as universities and research bodies. The issue of curbing deforestation has been a major concern for the delegates at Bali, as the current U.N. climate pact, the Kyoto Protocol, does not have provisions to reward developing nations for preserving tropical rainforests. The REDD scheme, at its core, would allow carbon credits to be given to qualifying developing nations, which can then be bought by wealthy nations to offset their emissions. The main point of contention revolves around whether future discussions on deforestation should be broadened to include other types of land use, a proposal supported by the United States but opposed by most developing nations, according to an Indonesian forestry official. The official informed Reuters that the proposal could shift the attention away from forests, complicate the plan, and delay its implementation. The Bali meeting has agreed to encourage individual countries to undertake projects to help them get ready for REDD, while also agreeing to further study the issue. The World Bank has initiated a $300 million fund to combat global warming by preserving forests. This fund includes a $100 million "readiness" fund to provide grants to about 20 countries to prepare for large-scale forest protection efforts. The grants will support projects such as surveys of current forest resources, monitoring systems, and improving governance. A separate $200 million "carbon finance mechanism" will enable some of these countries to carry out pilot programs and earn credits for reducing deforestation. Indonesia is a strong advocate for REDD and is ranked as one of the top three greenhouse gas emitters globally due to deforestation, peatland degradation, and forest fires. A recent report, supported by the World Bank and Britain's development arm, highlighted these issues. Indonesia has over 225 million acres of forest, accounting for approximately 10 percent of the world's remaining tropical forests, as reported by rainforestweb.org.