Norway invests in Brazil to combat Amazon deforestation

Norway provided a new payment of R$ 350 million to the Fundo Amazônia to support forest preservation in Brazil.

This funding follows a period where the Brazilian Amazon reached its lowest deforestation rates since 1988. The Norwegian government remains the largest investor in the fund, contributing over US$ 9.2 billion since the mechanism began in 2008. The Fundo Amazônia pays for projects that monitor and combat illegal logging while supporting indigenous and local communities.

Sigrun Gjerløw Aasland, the Norwegian minister for environment and climate change, stated that the fund's payment for results model ensures that money only flows when forest protection is proven. This strategy has helped Norway reduce its own carbon emissions by an amount equivalent to a century of its previous emissions. Norway also provided a US$ 3 billion loan to the Tropical Forest Forever Facility, a new Brazilian initiative.

The loan requires other donors to raise at least 100 billion Norwegian kroner, ensuring that Norway contributes less than 20% of the total amount. The funds will be distributed over a 10 year period to promote sustainable economies and protect global carbon sinks.