G20 environment ministers back funding for forest conservation

illuminem summarizes for you the essential news of the day. Read the full piece on The Associated Press or enjoy below:

🗞️ Driving the news: G20 environment ministers have backed Brazil’s proposal to create a global fund for forest conservation, known as the Tropical Forests Forever Facility
• The initiative aims to financially reward tropical forest nations for preserving their ecosystems, with a focus on supporting local and Indigenous communities involved in forest protection

🔭 The context: During a G20 meeting in Rio de Janeiro, environment ministers discussed key issues like climate change, biodiversity loss, and sustainable financing
• Brazil’s initiative builds on existing efforts, such as the Amazon Fund, but broadens its scope to include all tropical forest countries based on the area preserved, rather than only deforestation reduction

🌍 Why it matters for the planet: Tropical forests are critical in combating climate change and maintaining biodiversity
• A global fund could help incentivize preservation efforts, protect vital ecosystems, and support vulnerable communities who rely on these forests for their livelihoods

⏭️ What's next: G20 heads of state will review the ministers’ proposals, including the forest conservation fund, during their summit in Rio on November 18-19

💬 One quote: “We have no time to lose, and we cannot leave anyone behind,” said Brazil’s Environment Minister Marina Silva, highlighting the urgency of addressing climate change and ecosystem degradation

📈 One stat: The G20 aims to limit global warming to well below 2°C above pre-industrial levels, as part of the Paris Agreement

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