BRAZIL TO RECEIVE BILLION DOLLAR PAYMENT FROM NORWAY FOR DEFORESTATION REDUCTION

09/21/2015

Norway announced that it will pay Brazil’s Amazon Fund $1 billion USD by the end of the year. This payment fulfills a pledge that Norway made to Brazil in 2008 to compensate deforestation reduction. Norway made another $1 billion USD pledge to Indonesia in 2008, but Indonesia’s efforts have fallen short. Brazil’s accomplishments were commended by the Norwegian Minister of Climate and Environment, as well as by U.N. Secretary General Ban Ki-moon. Some worry that, while the Amazon was preserved, other Brazilian ecosystems—such as the Brazilian Cerrado grasslands and the Caatinga forest—have been over-exploited. Brazil’s efforts signify the largest emissions cut in the past ten years. Amazon rainforest deforestation decreased by 75%, which resulted in a 3.2 billion ton reduction of carbon dioxide emissions. For the full story, see http://news.mongabay.com/2015/09/norway-pays-brazil-1b-to-fulfill-pledge-for-curbing-deforestation/