Germany Pledges $1.15B to Brazil's Rainforest Fund

Germany pledges €1 billion to Brazils new rainforest fund, aiming to preserve vital ecosystems threatened by agriculture, expanding pastures, and mining. The fund, overseen by an eighteen-member board, will distribute around $4 billion annually, nearly tripling current international financing for forest protection. Norway has already committed $3 billion, with Brazil and Indonesia contributing $1 billion each. Up to 70 developing countries could benefit, with at least 20% of funds going to Indigenous peoples and traditional communities.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.