Country also signed a contract to allocate £80 million to BNDES; investments were announced at COP28
The United Kingdom announced during the COP28 (United Nations Climate Conference) in Dubai this Saturday (Dec 2, 2023) the contribution of £35 million (around R$219 million at current exchange rates) to Amazon Fund. In addition to the contribution, the British government also signed a contract with the BNDES (National Development Bank).
The country’s Minister for Energy Security, Claire Coutinho, made the announcement to the Minister of the Environment, Marina Silva, and the president of BNDES, Aloízio Mercadante. To the bank, the United Kingdom must contribute £80 million (around R$500 million at current prices), an amount that had been announced in May, but the contract for which was only signed during the conference.
In total, the United Kingdom will invest just over R$700 million in the country. The UK ambassador to Brazil, Stephanie Al-Qaq, said in a post on X (formerly Twitter) that “supports Brazil’s initiatives for forests and the sustainable development of the communities that protect them”.
Announcement: The UK supports Brazil’s vision for forests and the development of the communities that protect them, which is why we announce today, at #COP28new financial support of £35 million for the Amazon Fund.
🇬🇧’s contribution to the Fund now totals more than R$700 million pic.twitter.com/JlBIiP6yBk
— Stephanie Al-Qaq (@salqaq) December 2, 2023
The Amazon Fund was created in 2008 during the president’s second term Luiz Inácio Lula da Silva (PT) and is considered the main initiative to reduce gas emissions and preserve the biome. Since its creation, the fund has received more than R$3.4 billion to finance 102 projects. Norway, Germany, the United States and Switzerland are some of the countries that have already contributed to the fund.
In 2019, the then Minister of the Environment, Ricardo Salles (PL-SP), suspended 2 committees that managed Amazon Fund resources. According to BNDES, R$3 billion were not invested at the time, as due to the donors’ contractual condition, the money could only be distributed by committees.
In 2022, the STF (Supreme Federal Court) decided that the Union should reactivate the initiative and understood that the dissolution of the committees constituted an omission by the government of Jair Bolsonaro (PL) in the preservation of the Amazon. The groups were restored on January 1st by Lula’s decree.
Brazil and the United Kingdom also announced the creation of a hub of industrial decarbonization for Brazil. The objective is to advance the national industry in relation to net emissions.
#announces #million #Amazon #Fund