The origin of the US$200 million for the Amazon promised by Petro

During the climate summit that takes place in Egypt, COP27, President Gustavo Petro presented a decalogue of actions to face the climate crisis and offered US$200 million annually to revitalize the Colombian Amazon rainforest.

(Why Petro says the world ‘gets by’ without oil and without coal).

“We have to save the pillars of the planet’s climate, first of all. The Amazon rainforest is one. Colombia will grant 200 million dollars annually for 20 years to save the Amazon rainforest. We look forward to global input.”, said the president.

According to EL TIEMPO, estimates suggest that a total of US$400 million a year is required for the Amazon within national borders to maintain its natural capacity to be a climatic pillar.

(Minambiente proposes to strengthen the bioeconomy: how it would work).

The financing of those US$200 million a year would come from future periods and from the changes made to the destination of the carbon tax approved in the tax law, said the Ministry of Environment. And the other US$200 million, the Government expects to come annually from international cooperation.

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*With information from EL TIEMPO