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Brazil advances with rainforest preservation

Brazil advances with rainforest preservation

OSLO (BDCi) – Thanks to assistance from Norway, Brazil is making good process in protecting the Amazon rainforest.

Norway, which gains its wealth from offshore oil and gas, spent $1.7 billion from 2008 to 2013 to help slow tropical deforestation around the world.

According to reports, Brazil’s rate of deforestation and corresponding greenhouse gas emissions have sharply dropped.

In addition, Norway so far has paid $720 million to help back up domestic programs in Brazil, after an initial promise of up to $1 billion back in 2008, depending on the South American nation’s performance.

Other nations such as Indonesia, with the third-largest rainforest, were given similar offers by Norway. After a change of government and a weak legal basis, Indonesia has received only 2 percent of Norway’s total payments.

Norway accounts for over 60 percent of all funds for forests and climate control pledged by the world’s richest nations.