Norway makes new pledge to Amazon Fund

Norway on Monday announced an additional USD 50 million donation to the Amazon Fund, which finances conservation efforts in the rainforest. This is Norway’s first new donation since 2018.

Prime Minister Jonas Gahr Støre said in a statement that “a 50 percent reduction in deforestation in the Amazon by 2023” is a result of President Luiz Inácio Lula da Silva’s “demonstrable ability to take targeted action.”

The announcement was made during an Amazon Fund event at this year’s United Nations Climate Change Conference (COP28) in Dubai.

Recent satellite data shows that deforestation in the rainforest fell by 22.3 percent in the 12-month period ending July 2023. However, the decline was even steeper (42 percent) in the period from January to July 2023 — the first six months of the new Lula administration.

“The Amazon Fund is more important than ever to end deforestation and contribute to sustainable development in the Amazon,” Mr. Støre added.

Norway is by far the largest donor to the fund, accounting for over 92 percent of the USD 1.3 billion accumulated since 2008.

Earlier this month, the United Kingdom signed an agreement with Brazil’s National Development Bank (BNDES) for its first contribution to the Amazon Fund, amounting to GDP 80 million (USD 100 million). The U.S. government has signed a USD 3 million donation and pledged a further USD 497 million.

In a statement, the Norwegian Embassy in Brazil said the fund “has significantly contributed to some of Brazil’s most successful policies to combat deforestation and promote sustainable development in the Amazon” and called it “an important international example.”

Over the past 15 years, the Amazon Fund has made major contributions to some of Brazil’s most successful policies to combat deforestation and promote sustainable development in the Amazon.

“The construction of the fund itself is a symbol of Brazil’s leading role in the climate agenda,” the Norwegian Embassy said.

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