Brazil Creates International Fund to Protect the Rainforests
Tuesday, October 21st, 2008Brazilian President Luiz Inacio Lula da Silva has established an international fund to help protect the Amazon rainforests in the country. Although not providing any money of its own, the President is seeking donations to the fund to the tune of $21 billion, including $1 billion in the first year. Brazil would retain its control over the Amazon and the funds would be used to promote various forest protection programs. Norway has kicked in $100 million. The question is whether other nations will want to wait and see what comes of the climate negotiations at the UN, where negotiators from around the world are debating how to calculate deforestation emissions and create a system to fund conservation programs in tropical nations.