Environment

With strings attached for Brazilian agro, rich nations agree to fund forest conservation

The so-called Global Forest Finance Pledge will provide billions in funding to boost climate initiatives in developing countries, but there's no such thing as a free lunch for the Brazilian government, with Big Agro set to face changes

Brazilian agriculture is set to face increased scrutiny and altered processes amid announcement of international climate funding. Photo: PlinioMiranda/Shutterstock
Brazilian agriculture is set to face increased scrutiny and altered processes amid announcement of international climate funding. Photo: PlinioMiranda/Shutterstock

Led by the U.S. and the European Union, twelve developed economies launched a global initiative to fund forest conservation at the UN’s Climate Summit (COP26) in Glasgow this week, with potential ramifications for Brazilian agro.

Together, members of the so-called Global Forest Finance Pledge pledged to commit USD 12 billion to initiatives in developing countries, including restoring degraded land, tackling wildfires, and protecting the rights of indigenous peoples and other local communities. It is believed that Brazil will be among the recipients of these funds — but they won’t come for free.

In addition, 14 donors pledged at least USD...

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