Denmark has pledged US$22M (EUR20M) to the Amazon Fund, marking its first contribution to the mechanism.
Dan Jørgensen, Danish Minister for Development Cooperation and Global Climate Policy, declared the donation after meeting Brazilian Minister Marina Silva.
The donation acknowledges Brazil’s efforts in global climate talks and seeks to fortify the relationship between Brazil and Denmark.
The declaration came after a European meeting between Brazil’s President Lula and Denmark’s Prime Minister Mette Frederiksen, heightening hopes for a Danish contribution.
The donation will support projects aimed at reducing deforestation, protecting biodiversity, enhancing the living conditions of local communities, and encouraging sustainable development in Brazil.
Jørgensen stressed the need to halt deforestation, safeguard biodiversity, and protect the rights of indigenous and local communities in the Amazon’s fight against climate change.
He conveyed Denmark’s eagerness to broaden its collaboration with Brazil in creating sustainable practices, especially in renewable energy.
Despite existing collaborations, Jørgensen feels they lack the ambition his government aspires for.
Managed by the Brazilian Development Bank (BNDES), the Amazon Fund is designed to fund efforts to prevent, monitor, and fight deforestation, and to conserve and sustainably use the Amazon biome.
The fund follows the REDD (Reduction of Emissions from Deforestation and Degradation) guidelines, which Brazil introduced at the 2006 UN climate conference.
It aims to boost donor trust in the efficient use of funds and support forests without producing carbon credits.
AMAZON FUND
The Amazon Fund was established in 2008 as a financial mechanism to support efforts in combating deforestation and promoting sustainable development in the Amazon region.
It relies on donations from governments, the private sector, and other organizations worldwide.
Since its inception, the fund has supported numerous projects aimed at forest conservation, sustainable land use, and enhancing local communities’ livelihoods.