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Brazil to propose financing plan to protect tropical forests at COP28

Bryan Harris of The Financial Times reports that Brazil will propose a financing plan to protect tropical forests at COP28.

The C3 Take
  • The proposal will pay people to preserve the Amazon rainforest and reduce deforestation.
  • While details have yet to be finalized, the funding mechanism for this plan will likely be an investment fund with money from institutions and long-term investors.
  • This fund will set a rate of return and anything that this fund makes above this rate will go to protecting the Amazon.
  • Importantly, Brazil’s ambassadors have stressed that in order for this strategy to be successful it must empower bottom-up, not top-down, action.

“‘It’s not top-down. It has to be a bottom-up exercise,’ said André Aranha Corrêa do Lago, a senior Brazilian diplomat, about Brasília’s environmental efforts. ‘At COP28, we’re going to have the beginning of a very important new stage. What has to be done will be debated first by the countries that have tropical forests.’ said André Aranha Corrêa do Lago, a senior Brazilian diplomat, about Brasília’s environmental efforts. ‘At COP28, we’re going to have the beginning of a very important new stage. What has to be done will be debated first by the countries that have tropical forests.'”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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