The world's largest REDD+ project has finally been given the go-ahead by the Indonesian government after spending three years in limbo.

The project at Rimba Raya Biodiversity Reserve in Borneo was approved by the Ministry of Forestry last week and is now set to reduce total emissions by 119 million tonnes of CO2 equivalent over 30 years.

The 64,000 hectare site will generate carbon credits from preserving the carbon-rich tropical peat swamp and forest in the face of development pressure from palm oil plantations. Under the REDD+ scheme the credits can be purchased by companies seeking to reduce their emissions through the voluntary carbon market.

Supporters of the scheme say the revenues from carbon credits will go towards preserving critical orangutan habitat, which is faces severe threats from deforestation and changes in land use.

The project had been left in limbo for over three years as a result of a long-running assessment programme, but the eventual approval of the Ministry of Forests was hailed as a victory by conservationists.

"Rimba Raya will be one of the most important orangutan conservation projects in the world," said Dr. Birute Mary Galdikas of conservation group, Orangutan Foundation International, which is a beneficiary of the project. "It is nothing less than the promise of survival for the endangered orangutan."

REDD+ projects have been criticised in some quarters as companies could in theory log areas of forest, but compensate for the emissions by planting trees elsewhere. Questions have also been asked over project developers' ability to accurately measuring the amount of carbon stored in forests and soils - as well model what might have happened had the project not existed.

Wider reforms to the REDD+ scheme are continuing as part of international climate talks with diplomats hopeful that a market mechanism could be established that will give developing countries a financial incentive to leave forests standing.