Britain is considering joining the Amazon Fund, the biggest fund ever created for forest conservation, to support rainforest sustainability, as reported by Reuters on January 3. British environment minister Therese Coffey stated that the British government was already in talks with the fund’s current partners, Norway and Germany, about joining the initiative. Norway and Germany have donated over USD1.2bn to establish the fund. According to Coffey, Britain could assist Brazil in many ways, including programs in rural sustainability, low-carbon architecture, and the country’s position as a global hub for green finance. As Brazil’s third largest collaborator on environmental issues, Britain has provided Brazil with more than GBP250m (USD301.5m) from its international pilot fund.

On January 1, Brazil’s new President Luiz Inacio Lula da Silva restored the Amazon Fund frozen by the previous far-right government of Jair Bolsonaro. Bolsonaro dismissed the board of the fund in 2019, claiming there were alleged irregularities among projects administered by Non-Governmental Organizations (NGOs). Lula has overturned many of Bolsonaro’s policies that caused a surge in deforestation and weakened environmental protections, alongside his commitment to achieving zero deforestation in the Brazilian Amazon during his presidency. In November 2022, Brazil, Indonesia, and the Democratic Republic of Congo (DRC), the world’s three largest rainforest countries, also formed partnerships for forest conservation and called for financial compensation for countries that reduce deforestation and maintain forests.

Sources:

https://www.reuters.com/business/environment/britain-could-join-amazon-fund-help-brazil-control-deforestation-uk-minister-2023-01-03/

https://www.reuters.com/world/americas/germany-willing-principle-revive-amazon-fund-development-ministry-2022-11-02/

https://www.regjeringen.no/en/aktuelt/brazil-re-activates-the-amazon-fund/id2953103/