The Amazon Fund is aimed at raising donations for non-reimbursable investments in efforts to prevent, monitor and combat deforestation, as well as to promote the preservation and sustainable use of forests in the Amazon Biome, under the terms of Decree N.º 6,527, dated August 1, 2008.
The Amazon Fund will be managed by the BNDES, the Brazilian Development Bank, which will also undertake to raise funds, facilitate contracts and monitor support projects and efforts.
The Amazon Fund has an Guidance Committee − COFA, assigned with the responsibility of posting guidelines and monitoring the results obtained; and a Technical Committee − CTFA, appointed by the Ministry of Environment, whose is charged with certifying the emissions count from deforestation of the Amazon Forest.
The Technical Committee, as referred to above, will verify the calculations made by the Ministry of Environment concerning the effective reductions of carbon emissions from deforestation, appraising the methodologies for calculating the deforested areas and the amount of carbon per hectare used in the respective calculation of emissions. After consulting the Brazilian Climate Change Forum, the Technical Committee will be put together, consisting of six authoritative technical and scientific experts appointed by the Ministry of Environment, for a term of three years, extendable once for an equal period.
Assets and Income
The funds that make up the Amazon Fund’s assets will come from donations and net return from cash investments.
Donators should deposit funds in a bank account held by the BNDES in Brazil, which will be informed after agreement between the parties as to the effective date of the donation.
The balance of the Amazon Fund not used by the end of each year will be transferred for use in the ensuing year, as will the net returns obtained from cash investments.
The Fund’s Fiscal Year will be the same as the BNDES’ Fiscal Year.
Subject Areas and Estimated Outcome
The Amazon Fund will support the following areas:
- Management of public forests and protected areas;
- Environmental control, monitoring and inspection;
- Sustainable forest management;
- Economic activities created with sustainable use of forests;
- Ecological and economic zoning, territorial arrangement and agricultural regulation;
- Preservation and sustainable use of biodiversity; and
- Recovery of deforested areas.
Besides this, the Amazon Fund may support the development of systems to monitor and control deforestation in other Brazilian biomes and in biomes of other tropical countries.
In addition to reducing the emission of greenhouse gases, proposed subject areas for support by the Amazon Fund may be coordinated in such a way as to contribute to accomplishing significant targets including prevention, monitoring and combat against deforestation, and targets related to promoting the preservation and sustainable use of forests in the Amazon biome.