What is the Amazon Fund?
The Amazon Fund is a REDD+ mechanism created to raise donations for non-reimbursable investments in efforts to prevent, monitor and combat deforestation, as well as to promote the preservation and sustainable use in the Brazilian Amazon, under the terms of Decree N.º 6,527, dated August 1, 2008.
The Amazon Fund supports projects related to:
- Management of public forests and protected areas;
- Environmental control, monitoring and inspection;
- Sustainable forest management;
- Economic activities created with sustainable use of the vegetation;
- Ecological and economic zoning, territorial arrangement and agricultural regulation;
- Preservation and sustainable use of biodiversity; and
- Recovery of deforested areas.
Besides this, up to 20% of the Amazon Fund’s disbursements may support the development of systems for monitoring and controlling deforestation in other Brazilian biomes and in biomes of other tropical countries.
The Amazon Fund is managed by the Brazilian Development Bank (BNDES), which is responsible for raising and investing funds, monitoring the projects supported, rendering accounts and communicating results obtained.
The Amazon Fund has a Guidance Committee (COFA), responsible for establishing guidelines and monitoring the results obtained; and a Technical Committee (CTFA), that is in charge of certifying the calculations made by the Ministry of Environment concerning the effective reductions of carbon emissions from deforestation.
In 2015 Brazil announced its National Strategy for REDD+ (ENREDD+) and established the National REDD+ Committee (CONAREDD+), responsible for coordinating and monitoring the implementation of ENREDD+. The Amazon Fund has already been designated eligible for access to payments for results from REDD+ achieved by the country and recognized by the United Nations Framework Convention on Climate Change.
Amazon Fund Project DocumentThe Amazon Fund Project Document explains the creation and management of the Amazon Fund. It is a relevant document for stakeholders of the Fund and also for those interested in formulating public policies related to REDD + initiatives (Reducing Emissions from Deforestation and Forest Degradation).
To access the Amazon Fund Project Document click here
Assets and Income
The resources that make up the Amazon Fund’s assets come from donations and net returns from financial investments.
The Fund’s Fiscal Year is the same as the BNDES Fiscal Year (January 1st to December 31st). The remaining balance of the Amazon Fund by the end of each year is transferred to the next year, as well as net returns obtained from financial investments.