France and Brazil announce €1 billion investment plan for Amazon

France and Brazil announce €1 billion investment plan for Amazon

Elizaveta Volkotrub

The Amazon forests play a big role in the fight against climate change because they absorb CO2 emissions

Brazil and France have announced a joint investment plan worth 1 billion euros over the next four years, which will be aimed at protecting the Amazon rainforest, developing the bioeconomy, creating a carbon market, and supporting indigenous communities.

This became known when French President Emmanuel Macron arrived in the city of Belem to meet with the President of Brazil, Reuters reports.

According to DW, it is planned to create a carbon market aimed at rewarding countries that invest in natural carbon sinks. The Amazon rainforest plays an important role in the fight against climate change as it absorbs CO2 emissions. France and Brazil are seeking to promote a "major public and private global investment plan in the bioeconomy" of the Brazilian and Guyanese Amazon.

Macron and Lula traveled by riverboat to visit a sustainable chocolate production project on an island near Belém and met with indigenous people.

During this event, Macron presented indigenous representative and environmentalist Raona Metuktire of the Kayapo people with the National Order of the Legion of Honor, the highest award of merit in France, for his dedicated fight to protect the rainforest and the rights of indigenous people.

As Ecopolitic previously reported, 3.2 GW of solar capacity was installed in France in 2023, increasing the total capacity of SPPs to 20 GW.

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