On September 15, at a Eurogroup meeting in Santiago De Compostela, Spain, the European Union announced financial support for protecting the Amazon rainforest. The funds are to come from the Global Gateway Investment Plan, which increases the EU’s global influence in infrastructure, democracy and ecology. The Amazon rainforest absorbs 0.5 billion tons ofCO2 per year.

Amazon rainforests and the Global Gateway project

Spain, France, Italy, Sweden, Germany and the Netherlands – these countries, together with the European Investment Bank, plan to allocate 260 million euros to stop deforestation in the Amazon. The assistance will consist of coordinating financial contributions from member states and making sure the funds are spent as intended. The Amazon rainforest is the world’s largest tropical forest, absorbing about 0.5 billion tons ofCO2 annually. The Global Gateway investment program is an opportunity to expand the EU’s influence beyond its member countries. It assumes closing the global investment gap by 300 billion euros. The program’s tasks include. spreading democratic values, establishing cooperation and partnerships with countries outside the EU, promoting green energy and stimulating private sector investment in quality infrastructure.

EU fights for influence with China, Amazon rainforests benefit

The European Union’s current contribution to the protection of the world’s largest tropical forest is a chance to regain credibility after previous unfulfilled promises. The European Commission has been criticized internationally in the past for promising to support developing regions with large sums. In fact, it ended only in words, as no mechanisms were put in place to verify whether the subsidies were actually paid. This time, European commissioners want to make sure the money is delivered and spent as intended. The European Commission will coordinate fundraising from EU members. The first step towards this has already been taken, with the EC and the Inter-American Development Bank (IDB) launching a platform to raise funds from member states that have pledged assistance.

At the same time, it should be mentioned that the Global Gateway program was developed in response to China’s Belt and Road strategy. In recent years, China has been intensively strengthening its position in the world by establishing numerous trade and diplomatic ties. The Middle Kingdom is spending billions of dollars to build infrastructure to strengthen established partnerships – these include railroads, roads and ports.

Amazon rainforests are the Green Lungs of the Earth

The Amazon rainforest is a distinctive biome that absorbs huge amounts ofCO2. They cover 5 million square kilometers and stretch across nine South American countries. The area is characterized by abundant rainfall and high temperatures, which stimulate intense growth of thousands of plant species. Naturalists estimate that the Amazon’s evergreen rainforest is the habitat of half of the world’s plant and animal species, despite occupying only 6 percent. Earth’s surface.

The Amazon rainforest is being systematically cleared and burned by local people and industry to make room for cattle ranching and crop cultivation. Media reports state that up to 80 percent of of the world’s food comes from Amazonian forest regions, and production on such a massive scale knows no compromise. For example, fruits and nuts, which until recently were considered hard to find and exotic, are now purchasable at any supermarket. Up to half of all animal husbandry in Brazil is carried out on land created after the Amazon forest was cleared. We are already seeing the lamentable consequences of Amazon’s policies of destruction and logging.

Burning and drought cyclically lead to massive fires in the region, and these emit up to three times as muchCO2 into the atmosphere as tropical forests can produce. Amazon is turning from the Green Lungs of the Earth into a huge polluter. The European Union’s actions are designed to reduce the destruction of rainforests. The €260 million is just the beginning – the EU pledges support of €45 billion by 2027.

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