Delegates at the climate talks in Bali are on the verge of reaching an agreement on guidelines for a pay-and-preserve program for forests as part of a future global warming deal, according to Indonesia's foreign minister. The program, known as Reduced Emissions from Deforestation in Developing Countries (REDD), could potentially allow poor nations to earn billions of dollars through the trading of carbon credits by preserving forests. Scientists emphasize the importance of forest preservation in the fight against climate change, as deforestation in the tropics contributes significantly to man-made carbon dioxide emissions. The UN Climate Panel warns that the resulting CO2 levels are leading to global warming, which in turn causes rising seas, melting glaciers, and extreme weather events. Developed countries have shown enthusiasm for the role of forests in combating climate change during the talks. Developed countries and countries with large forest areas have agreed to work together to create a world map with the involvement of not only governments, but also institutions such as universities and research bodies. Addressing deforestation has been a major concern for the delegates at Bali, as the current U.N. climate pact, the Kyoto Protocol, does not provide incentives for developing nations to protect tropical rainforests. The REDD scheme is a simple way to issue carbon credits to qualifying developing nations, which can then be purchased by wealthy nations to offset their emissions. The main point of contention is whether future discussions on deforestation should be broadened to include other forms of land use, a suggestion supported by the United States but opposed by most developing nations, according to an Indonesian forestry official. The official informed Reuters that the proposal might shift the focus away from forests, complicate the scheme, and cause further delays in its implementation. The Bali meeting has agreed to encourage individual countries to carry out projects to prepare for REDD and to conduct more studies on the issue. The World Bank has initiated a $300 million fund to combat global warming by conserving forests, which includes a $100 million "readiness" fund to provide grants to about 20 countries for forest protection efforts. The grants will support projects such as forest asset surveys, monitoring systems, and governance improvements. The second part of the fund, a $200 million "carbon finance mechanism," will enable some countries to implement pilot programs that earn credits for reducing deforestation. According to a report sponsored by the World Bank and Britain's development arm earlier this year, Indonesia, a strong advocate for REDD, is one of the top three greenhouse gas emitters globally due to deforestation, peatland degradation, and forest fires. Indonesia has over 225 million acres of forest land, which accounts for approximately 10 percent of the world's remaining tropical forests, as stated by rainforestweb.org.