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Who will pay to save the Amazon?

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By illuminem briefings

· 2 min read

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

🗞️ Driving the news: The Amazon rainforest, facing dire threats from deforestation and climate change, requires substantial financial intervention 
Brazil's President Luiz Inácio Lula da Silva and experts emphasize the need for unprecedented resources to preserve this crucial ecosystem

🔭 The context: To date, funding for Amazon preservation, such as the Amazon Fund primarily supported by Norway, has been inadequate 
An estimated $6 billion a year is necessary for effective measures, including compensating farmers and sustainable forest management

🌍 Why it matters for the planet: The deterioration of the Amazon rainforest risks turning a major carbon sink into a carbon source, with wide-reaching impacts on biodiversity and global climate patterns

⏭️ What's next: The challenge is to secure sufficient funding from diverse sources, including private corporations 
Brazil's state governments are setting up carbon credit systems to attract private investment, though skepticism and political barriers present ongoing challenges

💬 One quote: "To get that capital into the forest...requires overcoming two powerful forces: the political right’s opposition to corporations that devote attention or money to societal challenges such as climate change, and the hostility from the political left — and much of the environmental movement — toward the use of the tools of capitalism to problem solve" (Eduardo Porter, author)

📈 One stat: Brazil emits over 600 million tons of carbon dioxide annually from forest exploitation, highlighting the urgent need for effective conservation strategies

Click for more news covering the latest on sustainable finance

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