Non-governmental organizations (NGOs) in Brazil's northern Amazon region set up a plan to draw investments to conservation, restoration and sustainable development in the biome.
The plan — submitted to the UN Cop 30 climate summits presidency on 4 July — suggests redirecting subsidies from high-greenhouse gas emission activities to sustainable projects and promoting environmental services, as well as fighting against illegal economic practices such as animal trafficking and property speculation of public lands, according to the NGOs.
The Amazon gathered around $5.8bn in investments between 2013-22, while it is worth at least $317bn/yr in ecosystem services, such as climate regulation — vital for agriculture and hydroelectric power generation — and biodiversity, according to the World Bank. The institution also estimated that $7bn would be necessary to preserve the biome against deforestation and ward it off from the tipping point, when it would suffer permanent damage like desertification and severe changes in the rainfall pattern.
Main financial resources for the plan may come from the Tropical Forest Forever Facility (TFFF) initiative, which Brazil launched in 2023 to raise funds to protect tropical forests and combat deforestation, the NGOs said. Considering the program's annual raising of $5bn, the groups expect that $2bn of it will fund the Amazon forest preservation.
Another proposal includes the creation of a Global Declaration for Amazon to engage countries enrolled in the UN Framework Convention on Climate Change (UNFCCC) in contributing to strengthen the biome against climate change.
Brazil will host UN Cop 30 climate summit in November, when it expects to deliver a roadmap to increase global climate finance to $1.3 trillion/yr.
