Brazil and France announce Amazon's €1 billion investment plan
Kyiv • UNN
Brazil and France have announced a €1 billion investment plan over the next four years to protect the Amazon rainforest, promote the bioeconomy, create a carbon market, and support indigenous communities.
Brazil and France on Tuesday announced a program to protect the Amazon rainforest, which includes 1 billion euros over the next four years. This became known when French President Emmanuel Macron arrived in the Brazilian city of Belem to talk to his Brazilian counterpart Luiz Inacio Lula da Silva, DW writes, reports UNN.
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The city of Belem is located at the mouth of the Amazon River in the northern Brazilian state of Pará. The city will host the COP30 climate summit in 2025.
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The investment plan aims to attract "1 billion euros of public and private investment over the next four years," according to a roadmap published by the French presidency.
The report says that Presidents Macron and Lula are committed to promoting a "major public and private global investment plan in the bioeconomy" of the Brazilian and Guyanese Amazon.
The text proposes to create a "carbon market" that intends to reward countries that invest in natural carbon sinks. The Amazon rainforest plays an important role in the fight against climate change as it absorbs CO2 emissions.
Deforestation in the Brazilian Amazon increased dramatically under the leadership of former President Jair Bolsonaro, who was defeated in the 2022 elections. In 2023, it was halved after the Lula government strengthened environmental protection.
Brazil and France have stated that they intend to support "indigenous people and local communities in the Amazon, who play an important role in protecting biodiversity through their traditional knowledge and forest management practices.
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