By Ben Geman - 02/05/13 11:27 AM EST
The Washington Post explains a new agreement to slow deforestation in Indonesia.
“Asia Pulp & Paper, the third-largest pulp and paper company in the world, announced Tuesday that it is halting operations in Indonesia’s natural rainforests, a victory for advocates who have been negotiating with the company for the past year,” the Post reports.
Reuters reports that oil giant BP reported a sharp drop in fourth-quarter profits “after it sold assets in preparation for what could be its biggest oil spill payout when the case comes to trial later this month.”
“BP, the last of the big four western world oil companies to report fourth quarter figures, still beat expectations because of one-off taxes related to its divestments and liability payments, and its shares rose nearly 2 percent,” the news service reports.