Sao Paulo, Brazil
Reuters
Brazil plans to propose a “huge” fund to pay for the conservation of tropical forests at the United Nations COP28 climate change summit that begins later this month in Dubai, the country’s top climate negotiator said on Thursday.
That potential financing mechanism, not previously reported, would be the latest in a proliferation of multilateral environmental funds. Countries agreed in the past year to establish a giant fund dedicated to biodiversity and another to pay for the destruction caused by climate change.
A fallen tree lies in an area of the Amazon jungle that was cleared by loggers and farmers near Porto Velho, Rondonia State, Brazil, on 14th August, 2020. PICTURE: Reuters/Ueslei Marcelino/File photo
The funds funnel money from rich countries to poor developing nations that struggle to otherwise pay for their environmental efforts.
Brazil is the world’s largest rainforest nation and contains some 60 per cent of the Amazon jungle. It is seen as vital to curbing climate change and protecting unique plant and animal species.
BRAZIL COULD REACH HISTORIC LOW DEFORESTATION IN ONE TO TWO YEARS, OFFICIAL SAYS
Brazil could reach historically low levels of deforestation in one to two years, the head of the environmental protection agency said on Thursday, as the country ramps up conservation efforts under left-wing President Luiz Inacio Lula da Silva.
Deforestation has fallen since Lula took over the presidency on 1st January from far-right predecessor Jair Bolsonaro, who weakened environmental enforcement and saw deforestation climb to a 15-year high.
Destruction in Brazil’s Amazon fell to 9,001 square kilometres in the 12 months through July, the country’s official annual period for measuring deforestation. That’s the lowest level since 2018, the year before Bolsonaro took office.
But it is still nearly double the all-time low for Amazon deforestation of 4,571 square kilometers set in 2012.
Rodrigo Agostinho, the head of the country’s primary federal environmental enforcement agency Ibama, told reporters on Thursday that the government would continue to work hard to bring down deforestation further.
“Who knows, in one or two years we could hit the numbers from 2012 and we will work in the direction of zero deforestation,” Agostinho said.
Lula has pledged to end deforestation altogether by 2030.
The President has staked his international reputation on restoring Brazil’s environmental credentials and will attend the United Nations COP28 climate summit in Dubai later this month with a message that the country is making progress on its commitments, Brazilian officials said ahead of the summit.
“This reduction in the deforestation rate means that we will arrive at COP28 with our heads held high,” Agostinho said.
– JAKE SPRING, Sao Paulo, Brazil/Reuters
Brazil presented the idea of a tropical forest conservation fund on Thursday at a meeting with ministers from seven other Amazon rainforest countries, according to Brazil’s top climate diplomat Andre Correa do Lago.
“It’s a conceptual proposal with a view to create a fund to help conserve tropical forests around the world…in 80 countries,” Correa do Lago said.
He said that the proposal is not finalised and Brazil is seeking support and suggestions from the other rainforest nations.
Asked if the fund would rival $US100 billion in annual funding previously promised by rich nations in climate financing, Correa do Lago declined to give the proposed size of the fund but said it would be “huge.”
The fund would not value forest conservation in terms of carbon, like many existing schemes, since protecting forests would primarily prevent further greenhouse gas emissions rather than absorbing additional carbon dioxide already in the atmosphere, Correa do Lago said.
He said the value would likely instead be linked to the area of forest measured in hectares, or units of 0.01 square kilometres.
The international proposal to conserve forests will be partnered with a domestic program to reforest destroyed areas.
Brazil also will launch plans at COP28 for an “Arc of Restoration” to counter the so-called arc of deforestation that is advancing ever deeper into the Amazon.
National development bank BNDES will run the project, he said.
Brazil is back
Shortly after winning election, President Luiz Inacio Lula da Silva at last year’s UN climate summit COP27, announced “Brazil is back” as an international environmental leader.
This year, he will present how Brazil is advancing on all environmental fronts, Correa do Lago said, including reducing Amazon deforestation in the 12 months through July to the lowest level since 2018.
The eight Amazon countries are also discussing a proposal on whether to issue a joint commitment to end deforestation by 2030, a target already endorsed by Brazil and some others.
Correa do Lago said that the proposal was advancing but declined to say if the deal could be announced at COP28.
He said Lula will push hard for the world to redouble efforts to limit climate change to a 1.5 degrees Celsius temperature rise, despite many analysts saying this target may be out of reach. Global temperatures have already risen about 1.2 degrees Celsius on average.
Correa do Lago declined to say whether Brazil would support a COP28 decision to “phase out” fossil fuels entirely. At past COP summits, China and India have blocked that language with the nearly 200 countries in attendance instead only calling for a “phase down” of fossil fuels.
