Colombia created a fund for the protection of ecosystems and the transformation of the environment that will manage resources for about 4 billion pesos (US$ 981 million) by 2026, the Ministry of Environment and Sustainable Development announced on Thursday.
The so-called Fund for Life and Biodiversity will seek to strengthen and finance projects and programs that the territories require in terms of climate action, containment of deforestation and planning around water.
Colombia is one of the countries with the greatest biodiversity in the world, where areas of the Amazon and other jungles are deforested every year. Scientists say protecting tropical forests is vital to curbing the effects of climate change.
The fund’s resources come from a 80% the collection of the national carbon tax; of the general budget of the nation; national and international cooperation, as well as donations and contributions in any capacity from public and private entities.
“We hope to mobilize resources and actors to achieve interventions in the territories that respond to the needs of ecosystems and communities and generate sustainable changes over time”said the Minister of Environment and Sustainable Development, Susana Muhamad, quoted in a statement.
Deforestation in Colombia fell by 29.1% in 2022 compared to the previous year, reversing the growth trends observed during the Government of former President Iván Duque.
At the beginning of November, Muhamad estimated that deforestation in the Colombian Amazon will be reduced by 70% in the first nine months of 2023 compared to the same period of the previous year, although the drought could change the trend.
Source: Reuters
Source: Gestion
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