illuminem summarizes for you the essential news of the day. Read the full piece on Reuters or enjoy below

🗞️ Driving the news: Switzerland and the United States have jointly donated $8.4 million to Brazil's Amazon Fund, managed by the Brazilian National Development Bank (BNDES), in a collective effort to combat deforestation and preserve the world's largest tropical rainforest
• Switzerland contributed 5 million Swiss francs ($5.4 million), while the United States contributed $3 million, with the latter forming part of President Joe Biden's $500 million commitment over five years announced in April

🔭 The context: The donation reflects the ongoing international commitment to Brazil's environmental agenda and the Amazon Fund's initiatives in the region
• The Amazon Fund, established in 2008, seeks donations to address deforestation issues, with previous contributions from Norway and Germany

🌍 Why it matters for the planet: Preserving the Amazon rainforest is crucial for global biodiversity and climate regulation
• The donation will support the Amazon Fund's efforts in preventing, monitoring, and combating deforestation while promoting sustainable development

⏭️ What's next: The collaborative donation from Switzerland and the United States underscores the importance of international support in addressing environmental challenges with the funds contributing to ongoing efforts to protect the Amazon and advance sustainable practices in the region

💬 One quote: "These contributions reinforce the commitment and confidence of these countries in Brazil's environmental agenda and the Amazon Fund's actions in the region" (Tereza Campello, Social-Environmental Director at BNDES)

📈 One stat: The Amazon Fund, established in 2008, has funded 102 projects with a cumulative investment of 1.75 billion reais ($340 million), focusing on initiatives for preventing, monitoring, and combating deforestation while promoting sustainable development in the Amazon region

Click for more news covering the latest on environmental sustainability