According to Marina Silva, who spoke with US Secretary John Kerry, the amount is directed towards forest recovery throughout the region
Minister of the Environment, Marina Silva said this Thursday (20.Apr.2023), in a press conference, that US investments aimed at recovering forests throughout Latin America could reach US$ 1 billion.
The speech was given after Marina spoke with the American secretary John Kerry. The amount does not include the US$ 500 million that will be destined to the Amazon Fund – a separate donation that will be destined only to Brazil.
According to the minister, the collaboration is part of the initial moment of the nations’ efforts. “It’s the first time we’re doing something like this. It’s a paradigm. We are starting from 0 to leveraging resources that, over time, will be very important”.
In addition to mentioning the amount allocated to Latin America, US President Joe Biden said during the forum that the US plans to donate US$ 500 million to the Amazon Fund. The total equals R$ 2,524,750,000 billion.
The figure is ten times greater than the dialogue between Biden and President Luiz Inácio Lula da Silva (PT) earlier this year. The recent announcement came during the Major Economies Forum’s virtual summit on energy and climate.
The suggestion that the country could invest in the Amazon Fund was made by Marina Silva to Kerry at their first meeting, at COP 27, in November 2022. Until now, the amounts were being negotiated.
The money will come from the US Treasury, however, it has not yet been approved by Congress. If accepted, the transfer will be made based on conservation results, following the Fund’s rules.
In the first phase of the project to combat deforestation, Brazil avoided the emission of 5 billion tons of CO2. Therefore, the country’s funding credit may be up to US$ 22 billion.
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