International negotiators are closing in on a new solution for combating climate change — and saving the world’s remaining forests.

Peru has been awarded a US$11 million grant to help the country on the initiative of Reducing Emissions from Deforestation and Forest Degradation (REDD) for sustainable forest management.

Lima, Sep.

Finnish Minister for Foreign Trade and Development, Paavo Väyrynen, said there are important opportunities for expansion of trade and economic cooperation between Finland and Peru.

The developing economy of Peru offers cooperation opportunities for Finnish companies particularly in natural resources, energy and environmental sectors, according to a press release from the Finnish government.

LIMA, Dec 27, 2010 (IPS/IFEJ) - The construction of five hydroelectric dams in Peru as part of an energy deal with Brazil will do considerable damage to the environment, such as the destruction of nearly 1.5 million hectares of jungle over the next 20 years, according to an independent study.

More than 1,000 km of roads will have to be carved out of primary and secondary forests to build the dams and power plants and put up power lines, says the report, carried out by engineer José Serra for ProNaturaleza, a leading conservation organisation in Peru.