|
|
 |
|
 |
 |
07.31.08
» President Lula signs decree to
create Amazon Fund in BNDES
BNDES will create and manage the Fundo Amazônia (Amazon
Fund), setup based on the decree to be signed by President
Luiz Inácio Lula da Silva on Friday, 1. The fund will take
on financial resources mainly from donations, and may get
contributions corresponding to US$ 1 billion in the first
year of effect. Potential drawing of national and foreign
funding may exceed US$ 21 billion by 2021.
The new fund will be intended to non-reimbursable financing
arrangements of efforts that may contribute to the
prevention, monitoring and fighting of deforesting, also
fostering the conservation and the sustainable use of
forests in the Amazon biome. Such strategy aims at reducing
emissions of greenhouse effect gases to the atmosphere as a
result of the areas deforested in the Brazilian Amazon.
Carbon stocks for the tropical forests around the world is
around 100 billion tons of carbon, corresponding to
two-times the total amount of carbon in atmosphere. Decrease
of deforesting, the outcome of the conservation and the
sustainable management of forests are clear opportunities of
having immediate climatic benefits.
The decree states that BNDES will coordinate donations and
will issue a diploma recognizing the contribution of
donators. Diplomas will be nominal, non-transferable and
will not imply equity rights or carbon credits to offset.
President Lula will sign BNDES’ decree in a ceremony to be
attended by theo Bank’s President, Luciano Coutinho, and the
Environment Minister, Carlos Minc.
Characteristics – The new fund, which will include funding
from the Bank’s budget, support projects with the following
goals: management of public forests and protected areas;
environmental control, monitoring and supervision;
sustainable forest management; economic activities developed
with the sustainable use of the forest; ecologic and
economic zoning, agrarian regulation and organization;
conservation and sustainable use of biodiversity; and
recovery of deforested areas.
The actions to be taken as part of the fund must consider
the Plano Amazônia Sustentável de Prevenção e Controle do
Desmatamento na Amazônia (Amazon Deforesting Prevention and
Control Plan). Additionally, up to 20% of the funds from
Fundo Amazônia may be applied in the development of
deforesting monitoring and control systems in other
Brazilian biomes and in other tropical countries.
The amount obtained by Fundo Amazônia will be defined by the
Ministry of Environment, according to the decrease of carbon
emissions resulting from the deforestation. Such decrease
will be attested by the Technical Committee of Fundo
Amazônia (CTFA), created for this purpose, the members of
which will be appointed by the Ministry of Environment.
The Fund will also create a Steering Committee, represented
by entities of the federal government, the governments of
the states included in Amazônia Legal (Legal Amazon) holding
state plans for the prevention and fighting to illegal
deforestation and representatives of the civil society,
appointed by the President of BNDES. Its main contribution
will consist in the approval of the guidelines ruling the
application of funds, the internal regulations of the Fund’s
Steering Committee, and its annual report.
BNDES will manage the fund and will be in charge of the
contracting an independent audit to check the correct
application of the funds, according to the guidelines set
forth in the decree.
 Back
to news
|
|
|
|
|
