COP28

Norway and UK announce 94 million USD of new funding to the Amazon Fund

At COP28, Norway announced a new contribution of 50 million USD and the UK a new contribution of 44 million USD in addition to previously pledged funds.

MINISTERS: Norway's Minister of Climate and Environment, Andreas Bjelland Eriksen, Brazil's Minister of Climate and Environment, Marina Silva and the UK's Minister for Energy Security and Net Zero, Graham Stuart at the celebration of the Amazon Fund's 15th anniversary at the COP28 climate conference. Photo: Julie Wentzel Frøland/RFN

Dubai, 11 December, 2023

The new funding was announced at theCOP28 UN climate conference on Monday, 11 December 2023, during a 15 year celebration of the Amazon Fund. Norway announced a new contribution of 50 million USD and the UK a new contribution of 44 million USD in addition to previously pledged funds

Most important funding mechanism for Brazilian rainforests

The Amazon Fund has for 15 years been the most important mechanism for international rainforest support to Brazil. It has provided much needed funding to establish monitoring of the Amazon, combating illegal activity in the region and directly supported the management of more than one million km2 of indigenous people’s territories and other protected areas.

"The Amazon Fund has proven to be an effective solution for financial rainforest support to Brazil amplifying Brazilian efforts for the Amazon", says Toerris Jaeger, Executive Director at Rainforest Foundation Norway.

More countries pledge support to the Amazon Fund

The fund has largely been supported by Norway (94%), Germany (6%) and has recently been promised support also from Switzerland, UK, Denmark and the US. However, hardly any of the newly promised support has yet been disbursed to the fund.

"Brazil needs international support to fulfill its ambition of zero deforestation in the Amazon. This vital rainforest is of global importance for climate and biodiversity, and protecting it is a responsibility that cannot lie with Brazil alone. We can only keep the 1.5 degree target alive if more countries contribute to rainforest protection, such as through the Amazon Fund", says Toerris Jaeger.

Potential for more support to Indigenous peoples and local communities

RFN estimates in its report Falling Short that 16% of the disbursement through the Amazon Fund goes to IPLC tenure and forest management activities. This type of support has the potential to increase, but is high compared to other forest funds (for example the World Bank Readiness Fund has disbursed 1,4% to this topic).

Anders Haug Larsen

International Advocacy Director
(+47) 932 17 626
andershl@rainforest.no

Kristin Rødland Buick

Senior Communications Adviser, International Media
+(47) 456 56 277
kristin@rainforest.no