BRUSSELS, Nov. 9 (UPI) -- The environmental impact of deforestation is an area where the international community can come together at a climate conference in Mexico, an EU official said.
An environment commission in the European Parliament proposed new ways to reduce deforestation as part of a sweeping effort to combat climate change.
EU lawmakers are considering a set of financial packages to help developing countries cut back on deforestation and reduce harmful emissions reaching the atmosphere.
The European community said tackling deforestation globally was a key issue as trees absorb much of the carbon dioxide emitted by human activities.
The package outlines a credit market where countries could cash in on the quantity of avoided deforestation.
Karl-Heinz Florenz, the German lawmaker who is the deputy chairman of an EU climate panel, said the financial package could be part of a framework of a climate conference in Cancun, Mexico, this month.
"There is still a lot of work ahead of us, especially with respect to accounting and financing but I'm optimistic" he said in a statement.
