The
National Climate Change Fund is Sanctioned by President
Lula
11/12/2009
- Secretariat for Social Communication of the Presidency
of Brazil - This week, the Brazilian President Luiz Inácio
Lula da Silva sanctioned the creation of the National Climate
Change Fund, which will use resources from oil activity
profits to finance mitigation and adaptation projects in
the country.
The
Fund has an estimated budget that ranges from US$ 450 to
US$ 570 million per year, deriving from 10% of oil profits.
It is important to note that donations will also be accepted
from national and international institutions, whether public
or private, among other possibilities foreseen by the law.
The
resources will be used in researches and actions for mitigation
and adaptation to climate change. "Such funds will
help vulnerable regions to climate change, such as the Northeast,
which will suffer from water shortage and may lose one third
of its economy up to the end of the century, not to mention
coastal regions that could suffer from flooding", explained
the Minister for the Environment, Carlos Minc.
The
approval of the Fund demonstrates a strong commitment from
Brazil to the reduction of greenhouse gases and the negotiation
of an ambitious agreement at the Climate Conference (COP-15)
in Copenhagen. "Such actions can only reinforce the
Brazilian position as a role model and consolidate the power
of Brazil in demanding from rich countries far more than
what they are willing to do", stressed the Minister.
The
resources could be applied in different activities, such
as support to sustainable production chains; scientific
researches on the analysis of impacts and vulnerabilities;
projects of carbon emissions reduction from deforestation
and forest degradation; development and diffusion of technologies
for the mitigation of greenhouse gas emissions; and the
construction of public policies to solve problems related
to GHG emissions and mitigation of their effects.
The
Fund also includes activities directed to the payment for
environmental services to communities and individuals who
carry out activities that contribute to verifiable carbon
storage, associated to other environmental services.
The
Fund will be coordinated by the Ministry of the Environment
and managed by the Brazilian Development Bank (BNDES). The
estimate is that a commission will be created in the beginning
of 2010 to evaluate which projects will be favored by the
Fund. The resources of the Fund, that can finance initiatives
throughout the whole country, could reach up to US$ 5 billion
across the next decade.
Do Ministério do Meio Ambiente
