MMA wants to ‘wean’ from the Amazon Fund and studies creation of the Biomas Fund – 11/01/2023 – Ambience

Inspired by the Amazon Fund, the state governors gathered in the Northeast Consortium want to create the Caatinga Fund. At the Ministry of the Environment (MMA), however, the favorite idea is that of a Biomas Fund.

To raise money abroad, the department seeks to convince state governments from biomes other than the Amazon to work on joint plans to combat deforestation.

On Tuesday (31), the governor of Bahia, Jerônimo Rodrigues (PT), delivered to Minister Marina Silva (Environment) a proposal from the Northeast Consortium for the creation of the Caatinga Fund, which, like the Amazon Fund, also it would be managed by BNDES (National Bank for Economic and Social Development).

In response, the minister asked the Northeast Consortium to consider the possibility of participating in a possible Biomas Fund, according to interlocutors present at the meeting.

The Ministry, which is preparing to launch a new version of PPCerrado, also asked state governments for ‘homework’: the creation of a program to combat deforestation in the Caatinga, following the example of PPCDAm (Program for Prevention and Combating Deforestation of the Amazon).

The preparation of the program can count on resources from the Amazon Fund – up to 20% of its resources can be invested in other biomes. Despite this, the minister also said that it is necessary to ‘wean’ the Amazon Fund, reducing dependence on resources from the fund for government actions.

The ministry also signaled that, to create a new fund and be able to attract donations, governments need to achieve results in the fight against deforestation. First you do, then you receive. This is the logic of the Amazon Fund – which follows the international Redd+ mechanism, created at the UN Climate COPs.

Still, governors should try to engage directly with international donors at the UN Climate COP28, which takes place at the end of November in Dubai. At least three interstate consortia – from the Northeast, the Amazon and Brasil Verde – must maintain the ‘climate paradiplomacy’ strategy, created during the Bolsonaro years.

With the banner of the ‘only exclusively Brazilian biome’, Caatinga leaders will seek investments at COP28 for research into the biome’s resilient genetics, for bioeconomy, agroforestry systems and energy – with an eye, especially, on the potential for green hydrogen production.

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