The surge in financial support underscores a growing global commitment to combat deforestation and promote sustainable practices in the Amazon rainforest.
In a landmark achievement for environmental conservation, Brazil’s Amazon Fund, dedicated to sustainable rainforest development, secured a substantial boost with $640 million in new pledged donations from developed nations in the past year. Tereza Campello, the environmental director of the National Development Bank (BNDES), which oversees the fund, revealed the impressive figure during a news conference on Thursday.
Among the major contributors, the Biden Administration committed a significant $500 million over five years, pending approval by the U.S. Congress. Other noteworthy donations came from the United Kingdom, Denmark, and the European Union.
Additionally, Norway, the fund’s original donor with an initial contribution of $1.2 billion, increased its support, along with Germany, the second country to back the initiative.
The surge in financial support underscores a growing global commitment to combat deforestation and promote sustainable practices in the Amazon rainforest. Since President Luiz Inacio Lula da Silva assumed office a year ago, Brazil has witnessed a remarkable decline in deforestation rates, reaching the lowest levels since 2018, following a concerning surge under the leadership of his predecessor, Jair Bolsonaro, a climate-change denier.
Tereza Campello emphasized that the Amazon Fund currently holds an impressive 3 billion reais ($610 million) available for investment in conservation and sustainability projects. Of this, 2.2 billion reais are under consideration for release, while an additional 800 million reais are awaiting project proposals.
During the news conference, Deputy Environment Minister Joao Paulo Capobianco highlighted Brazil’s progress in combating deforestation as a key factor in attracting new donations. The Lula government’s dedication to environmental preservation has resonated globally, with more countries expressing interest in contributing to the Amazon Fund.
Established in 2008, the Amazon Fund plays a crucial role in mobilizing non-reimbursable investments to support Brazil’s efforts in preventing, monitoring, and combating deforestation. The fund also focuses on promoting the preservation and sustainable use of the Amazon forest, recognized by scientists as the world’s largest tropical rainforest and a vital component in slowing global climate change by absorbing substantial amounts of carbon dioxide from the atmosphere.
One of the notable projects supported by the Amazon Fund is the international police cooperation center in Manaus. This initiative brings together nations within the Amazon basin to collaborate on policing the rainforest, sharing intelligence, and jointly addressing issues such as illegal logging, mining, drug trafficking, smuggling, and other crimes. The center serves as a testament to the collective commitment of nations to protect the Amazon ecosystem and its invaluable biodiversity.
The increased financial support from the international community is a positive step toward reinforcing the efforts of the Lula government and the Amazon Fund in preserving the ecological integrity of the Amazon rainforest. As nations come together to address the urgent challenges posed by deforestation, the pledged donations represent a significant stride towards achieving sustainable development and environmental conservation in one of the world’s most critical ecosystems.