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Brazil Wants Amazon Critics to Put Money Where Their Mouth Is

  • Environment minister changes tone, invites foreign investment
  • New programs will let private companies protect 15% of forest
Smoke rises from Brazil’s Amazon rainforest in 2019.
Smoke rises from Brazil’s Amazon rainforest in 2019.Photographer: Dado Galdieri/Bloomberg

Brazil is looking past the environmental fights with the international community that marked President Jair Bolsonaro’s first year in office and increasingly calling on investors and companies to help protect the Amazon, according to the country’s environment minister.

Ricardo Salles has been developing a series of plans that, as he described, will give critics a chance to put their money where their mouth is. The government is setting up three different investment funds, which should provide about $250 million in environmental financing, and setting aside 15% of the rainforest for preservation, which could bring in another 630 million euros ($747 million) in private investor money per year.