Brazil will fund climate change mitigation and adaption projects through a levy on domestic oil production, reports Reuters.
Izabella Teixeira, Brazil’s Minister of Environment, told Reuters the fund is expected to receive around $132 million (R$ 226 million) in 2011, a figure that would climb with rising oil production. Brazil expected to substantially expand production after the recent discovery of massive offshore oil deposits.
The mitigation and adaption fund—known as the National Fund on Climate Change (FNMC)—would also be eligible to receive money from other sources, including international funds, according to Teixeira.
Teixeira also reiterated Brazil’s commitments to reducing deforestation in the Amazon and cerrado ecosystems. She said figures to be released next month would show record-low forest loss in the Amazon over the past 12 months.
(09/15/2010) Brazil announced a plan to protect the cerrado, the vast woody savanna that covers 20 percent of the country but has become the nation’s biggest single source of carbon emissions due to conversion for agriculture and cattle pasture, reports Brazil’s Ministry of the Environment.
(08/31/2010) Deforestation in the Brazilian Amazon is down significantly since last year, according to preliminary estimates released by Brazil’s National Institute for Space Research (INPE) and Imazon, a Brazil-based NGO that tracks forest loss and degradation across the Amazon. Analysis of NASA MODIS data by Imazon found some 1,488 square kilometers of forest were cleared during the 12 months ended July 31, 2010, down 16 percent from the same period last year, when 1,766 square kilometers were deforested. Meanwhile analysis by INPE shows an even steeper drop from 4,375 square kilometers in August 2008 through July 2009 to 2,296 square kilometers in the current period, a decline of 48 percent. The discrepancy between INPE’s and Imazon’s estimates results from differences in how deforestation is tracked.
(12/10/2009) Brazil’s development bank BNDES has announced the first five recipients of grants under the South American country’s ambitious Amazon Fund, which aims to reduce deforestation by 70 percent over the next decade.
(07/01/2009) Responding to allegations that major Brazilian cattle producers are responsible for illegal forest clearing in the Amazon, Brazil’s development bank BNDES will soon require processors to trace the origin of beef back to the ranch where it was produced in order to qualify for loans, reports Brazil’s Agencia Estado. The traceability program aims to ensure that cattle products do not come from illegally deforested land.
(06/02/2009) Accounting for roughly half of tropical deforestation between 2000 and 2005, Brazil is the most important supply-side player when it comes to developing a climate framework that includes reducing emissions from deforestation and forest degradation (REDD). But Brazil’s position on REDD contrasts with proposals put forth by other tropical forest countries, including the Coalition for Rainforest Nations, a negotiating block of 15 countries. Instead of advocating a market-based approach to REDD, where credits generated from forest conservation would be traded between countries, Brazil is calling for a giant fund financed with donations from industrialized nations. Contributors would not be eligible for carbon credits that could be used to meet emission reduction obligations under a binding climate treaty.
(06/01/2009) Brazil accounts for nearly three-quarters of land protected in conservation areas established since 2003, according to a new study published in the Biological Conservation.
(01/04/2009) Environmentalists have long voiced concern over the vanishing Amazon rainforest, but they haven’t been particularly effective at slowing forest loss. In fact, despite the hundreds of millions of dollars in donor funds that have flowed into the region since 2000 and the establishment of more than 100 million hectares of protected areas since 2002, average annual deforestation rates have increased since the 1990s, peaking at 73,785 square kilometers (28,488 square miles) of forest loss between 2002 and 2004. With land prices fast appreciating, cattle ranching and industrial soy farms expanding, and billions of dollars’ worth of new infrastructure projects in the works, development pressure on the Amazon is expected to accelerate. Given these trends, it is apparent that conservation efforts alone will not determine the fate of the Amazon or other rainforests. Some argue that market measures, which value forests for the ecosystem services they provide as well as reward developers for environmental performance, will be the key to saving the Amazon from large-scale destruction. In the end it may be the very markets currently driving deforestation that save forests.