Indonesia: Developing nations must intensify efforts to reduce greenhouse gas emissions, the host of a UN climate change conference said today, while calling for adequate compensation for those who agree not to burn or cut down tropical rainforests.

The comment by Indonesian President Susilo Bambang Yudhoyono, whose country is losing its forests faster than any other, with the equivalent of about 300 soccer fields destroyed every hour, said the world is in a "race against time" to cut carbon emissions.

"Major economic powers should be faithful to their commitment under the current and future climate regime," he said at an informal gathering in Bogor on climate change. "But developing countries also have to play a part in reducing greenhouse gas emissions."

The discussions today and tomorrow are aimed at setting the stage for the December summit on the resort island of Bali, where environment ministers from 80 countries will discuss what actions the world must take after the first commitment period of the Kyoto protocol expires in 2012.

Yudhoyono said he hopes participants will agree to pay developing nations that reduce carbon emissions from deforestation a fair market price,"so that tropical rainforest countries do not have to shoulder the (economic) burden" alone.

Source : PTI