Biden's $500 Million Deforestation Pledge
President Biden pledged 500 million dollars to help fight deforestation in the Amazon.
What is the Deforestation Pledge?
President Biden pledged to fight deforestation in Brazil in April by offering 500 million dollars to the global Amazon Fund over five years. Brazil commits to ending deforestation by 2030, and Biden hopes to assist with their goal. Biden announced this pledge in Washington in April 2023 in front of representatives of some of the largest economies at a virtual meeting with the Major Economies Forum on Energy and Climate. The total amount pledged was $1 billion. This total amount was promised to the Green Climate Fund, a United Nations-led program that aims to help countries become more resilient to climate change. Previous issues with moving forward on climate action for the Biden party have resulted in delays. The Republican party is increasingly opposed to climate assistance at an international level. Their oppositional standpoint has made it difficult for the Biden party to act on his promises to assist international nations with climate change action.
What is the Amazon Fund?
The Amazon Fund is a conservation program established by Brazil. Since 2008, the conservation program has promoted efforts to curb deforestation. Countries such as Norway and Germany have been outstanding contributors, donating hundreds of millions of dollars.
Unfortunately, the Amazon Fund was suspended when Brazil's Jair Boldonaro was President. Boldanaro was notoriously known for destroying Brazil's protected areas rather than protecting them. During his term, Boldonaro wouldn't recognize Indigenous Lands, there was a significant increase in deforestation, and he approved over a thousand new pesticides.
Biden hopes to create warmer ties with Brazil through the current president, Luiz Inacio Lula da Silva. This new partnership could result in new methods to fight deforestation in the Amazon by creating a commitment to strengthen cooperation against environmental crimes. Biden stated that he would like to focus on the value of the conservation of forests rather than their destruction.
The Role of the Amazon
The size of the Amazon rainforest amounts to 2.3 million square miles, which is about 40% of Brazil's total area. This rainforest is massive and is considered the world's most rich and diverse biological reservoir. This forest holds up millions of species, including insects, birds, plants, and other life forms that scientists have not discovered. Animals such as jaguars, capybaras, monkeys, and manatees call the Amazon home.
The Amazon also plays an essential role in regulating the Earth's water cycles. This regulation plays a part in stabilizing the current climate and absorbing the carbon dioxide produced globally. Deforestation results in additional carbon dioxide being released into the atmosphere. As the trees are cut down, the additional 150 billion to 200 billion metric tons found in the Amazon are released with every tree cut.
The Impact of the Donation
Biden’s focus on sustainability has set admirable goals for reducing and fighting climate change. Additionally noted in this meeting was that the participating countries account for 80% of the world's total greenhouse gas emissions. By setting an example and proposing solutions to the issue at hand, Biden hoped other parties would follow suit.
What is the Green Climate Fund?
The Green Climate Fund helps finance projects on clean energy in developing countries. Biden's contribution of a billion dollars, overall doubled the U.S.'s previous contributions. "The impacts of climate change will be felt the most by those who have contributed the least to the problem, including developing nations," Biden said. "As large economies and large emitters, we must step up and support these economies."
How can you make a difference?
At Carom, our mission is to drive companies to adopt circular business models and practices that are better for people and the planet. We value taking accountability for our actions while consider the impacts on the future. Carom can makes significant impacts for a more sustainable future, by returning the responsibility to businesses to close the loop. Our eco-activist group is a team of individuals aware of their part in the cycle and are ready to make changes. We offer critical insights that build awareness of our influence on the current ecological state of the Earth.
By joining us as an eco-activist, you too, can take actionable measures that help us reduce the impacts businesses have on the planet and move us toward a more sustainable future.
Key Takeaways:
President Biden pledged to fight deforestation in Brazil in April by offering 500 million dollars to the global Amazon Fund over five years.
$1 billion dollars was pledged to the Green Climate Fund, a United Nations-led program whose purpose is to help countries become more resilient to climate change.
The Green Climate Fund helps finance projects on clean energy in developing countries. Biden's contribution of a billion dollars overall doubled the U.S.'s previous contributions.
The Amazon Fund is a conservation program that Brazil established. Since 2008, the conservation program has promoted efforts to curb deforestation.
Biden hopes to create warmer ties with Brazil through the current president, Luiz Inacio Lula da Silva.
The size of the Amazon rainforest is 2.3 million square miles, about 40% of Brazil's total area. This rainforest is massive in size and is considered the world's most rich and diverse biological reservoir.
The Amazon also plays an essential role in regulating the Earth's water cycles. This regulation plays a part in stabilizing the current climate and absorbing the carbon dioxide produced globally, as deforestation results in additional carbon dioxide being released into the atmosphere.
Biden’s focus on climate change has set admirable goals for reducing and fighting current issues. Additionally noted in this meeting was that the participating countries account for 80% of the world's total greenhouse gas emissions.
