Bala Chambers
01 March 2023•Update: 01 March 2023
BUENOS AIRES
US Special Presidential Envoy for Climate John Kerry said Tuesday that Washington is "committed” to working with Brazil’s Amazon Fund, an initiative to support sustainable development in the rainforest, but did not give a precise figure for how much they would contribute.
Speaking at a press conference alongside Brazil's Environmental Minister Marina Silva, Kerry acknowledged that any funding would need to be approved by the US Congress as he touched on two bill proposals.
"We have a piece of legislation in the Senate that has $4.5 billion as its target. We have one in the House that has $9 billion as its target" he said.
"It's bipartisan in both places, but we know we will have a fight to get things through," he added.
Silva thanked Kerry for his commitment, acknowledging that there are other ways to collaborate such as carbon credits whereby developing nations receive financial compensation from developed nations to reduce their greenhouse gas emissions.
She also announced the resumption of a working task force formed in 2015 to tackle the effects of climate change by clamping down on deforestation and defending indigenous peoples' rights.
According to news agency Agencia Brasil, the working task group will now set priorities for joint actions between the two countries.
Both countries also pledged to fight climate change, to adhere to the goal of maintaining a 1.5C limit on global warming and to make a just and inclusive energy transition, according to Brazilian news outlet G1.
Silva also underscored the country's "sovereignty" and how specifically the Amazon Fund's resources will be the sole responsibility of Brazil.
The Amazon Fund is a mechanism that supports sustainable development projects in Brazil's Amazon. It is sponsored by Norway and Germany and managed by the Brazilian Development Bank (BNDES).
The fund was suspended in 2019 during the tenure of former President Jair Bolsonaro, a decision recently overturned by President Luiz Inacio Lula da Silva’s administration.
