March 4, 2013

US$366 million failed to reach rainforest

According to a recent study by the Brazilian Institute of Amazon Conservation an Sustainable Development, the preliminary results suggest that US$366 million out of US$597 million destined for saving Brazilian rainforests from deforestation failed to arrive in Brazil. Notwithstanding this, Brazil is seen as one of the country’s which has managed the highest level of funds for rainforest conservation in the world.

The US$597 million in question was agreed by four private institutions and five government organisations, including the European Union. Most of this money was to be used by NGOs and government authorities to inform and build capacity at regional, local and community levels about forest carbon markets and REDD+ (Reducing Emissions from deforestation and Forest Degradation).

The slowness of promised funds arriving where they are needed has been put down to bureaucratic processes and low levels of capacity of prospective recipients plus the lack of a regulatory framework. Brazil’s Ministry for the Environment made no comment on the study.

Source: Portal do Agronegocio (Agribusiness Portal)


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