Deforestation in Brazil's Amazon down 40% in Q1, minister says
Reuters
Published Apr 09, 2024 10:36AM ET
Updated Apr 09, 2024 11:51AM ET
BRASILIA (Reuters) -Deforestation in Brazil's Amazon (NASDAQ:AMZN) has decreased 40% in the first three months of 2024 from a year earlier, Environment Minister Marina Silva said on Tuesday, citing data from space research agency INPE.
Silva told reporters at an event in Brasilia that the data are "highly significant" because they follow a 50% drop in deforestation in 2023. She did not provide detailed figures.
Preliminary satellite data made available by INPE until March 28 showed 492 square kilometers (189.96 square miles) of the Amazon were cleared in the period, a 41.8% drop on a yearly basis.
Brazil's President Luiz Inacio Lula da Silva, whose third non-consecutive term started in 2023, has staked his international reputation on reducing deforestation in the South American country, with pledges to end illegal clearing by 2030.
Last year, 5,153 square kilometers of the world's largest rainforest were cleared in Brazil, a 49.9% drop from 2022 and the lowest level since 2018, though still an area more than six times the size of New York City.
Under Lula's predecessor Jair Bolsonaro, destruction accelerated in the Amazon.
Silva said on Tuesday the government intends to invest 730 million reais ($145.87 million) in actions to fight deforestation in 70 Brazilian cities that were responsible for almost 80% of Amazon deforestation in 2022.
She added that Brazil was also working on a proposal to create a global fund to finance forest conservation. She said she hopes the money will be available by COP30, the U.N. climate change conference Brazil will host in 2025.
The South American country has garnered support from Indonesia, Congo and Ghana for the fund and has been in talks with Norway, Britain, Germany and France so they can back it by providing guarantees, Silva said.
($1 = 5.0046 reais)
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.