Memo #3 - Brazil and the Amazon Rainforest

To: The Biden Administration

From: Aidan Ridings, Matthew Dias, Spencer Higgs, Leah Tabor, and Stephen Bogli

Date: 4/17/22

RE: Deforestation in Brazil

 

Issue: Responding to the deforestation in Brazil, more specifically the Amazon Rainforest.

 

Executive Summary: Dating all the way back to the 1960’s, the practice of deforestation or the purposely clearing of forests in order to make space for other functions (Agriculture, Construction, etc.) has paved the way for much of Brazil’s modernization and economic development, however, this has taken a tremendous toll on the environment. The Amazon Rainforest spanning across much of Brazil has been experiencing a rapid decrease in overall area threatening the fragile ecosystems that exist there. Furthermore, instead of the rainforests are numerous factories and plants producing copious amounts of pollutants and greenhouse gases that contribute to global warming and further disrupt and destroy the Amazon’s delicate balance. Drastic and dramatic change must come swiftly before the Amazon, Brazil, and the planet itself suffers catastrophic and irreversible damage.

 

Relevant National Interests: The national interest in stopping deforestation in the Amazon can best be illustrated by the most recent Intergovernmental Panel on Climate Change (IPCC) report. The conclusion was simple, if greenhouse gas emissions do not peak by 2025 the world will experience “catastrophic” climate consequences.[1] The IPCC has noted that the world has failed to make the changes necessary to counteract climate change, despite the relatively low cost of GDP that would be given up to do so. However, in the case of the Amazon rainforest in Brazil, the monetary benefit of deforestation has been used to deter arguments from climate activists. Currently, corrupt governments and firms (particularly banks) continue to use the excuse of exploration of natural resources as a reason to destroy the environment. While there are factual concerns about inflation of food and energy prices due to monetary policy and war, these problems are reversable whereas the climate is not. The consensus belief among scientists when it comes to forests like the Amazon is that “growing forests and preserving soils will be necessary, but tree-planting cannot do enough to compensate for continued emissions of fossil fuels.”[2]

 

Analysis:

The Amazon is often lauded as the most important terrestrial biome on the planet for its irreplaceable biodiversity, ancestral homelands, economic contributions, natural resources, pharmaceutical capabilities, and climate regulation services. Environmental activists assert that the preservation of the Amazon is vital to curbing climate change. Unfortunately, estimates currently place the deforestation level of the Amazon at 17%. Despite the Brazilian government’s numerous pledges to bring the destruction under control, this high level of deforestation continues to rise closer towards the forest’s “tipping point” of 20%.[3] The deforestation is largely due to unchecked agricultural expansion, illegal and unmitigated gold mining, illegal logging, poorly planned infrastructure, and lack of law enforcement.[4] According to environmental researchers, right-wing Brazilian President Jair Bolsonaro has been systematically weakening environmental protections since he took office in 2019. Bolsonaro has long claimed that more commercial farming and mining in the Amazon is necessary to help lift the region out of poverty, yet his dismantling of environmental protections seems to cater more towards placating powerful agribusiness lobbyists and taking advantage of global markets.[5] AllRise, an environmental law organization, has filed official complaints accusing the Brazilian leader of waging a widespread campaign resulting in the murder of environmental defenders and of endangering the global population through emissions caused by deforestation.[6] Although Bolsonaro has faced international pressure, including global threats to reconsider using Brazilian agricultural commodities, warnings have had little impact. Commodity prices for Brazilian exports like soy, iron, petroleum, raw sugar, and lumber remain high and demand is strong, especially in China—Brazil’s largest market.[7]

 

Strategic Options:

 

Strategy One: Provide foreign aid to Brazil to prevent further deforestation.  

Foreign aid to prevent or limit deforestation has been given to Brazil in the past, though not by the United States.  The process of preventing or limiting further deforestation is known as REDD+ (Reducing Emissions through Deforestation and Forest Degradation).[8]  

            Pros: Foreign aid has appeared to work in the past, when Norway and Brazil made a previous transaction valued between $670 million and $1 billion.  (Deforestation had already begun to drop prior to Norway’s investment but continued to drop for several years afterwards).[9]  The United Kingdom and Germany have also made smaller and more localized payments to state and local governments in Brazil,[10] and this would show solidarity amongst ourselves and our allies, which has returned to importance since Russia invaded Ukraine.  Investing in Brazil’s forests could allow the U.S. to be seen as a leader once again regarding climate change, which has been a goal of the Biden administration, especially after rejoining the Paris Climate Accords.  This could also further strengthen ties with Brazil and its growing economy, if that is important to the Biden administration, and in case Bolsonaro fears worsening relations between the two nations after the end of the Trump administration.

            Cons: Bolsonaro’s government has made prior claims promising to stop deforestation but never executes these actions.  Bolsonaro has also been known to prefer profits from the agriculture and beef industries instead of preserving the forests in Brazil, especially the Amazon rainforest.[11]   In addition, it may be difficult to collect the money needed from foreign aid due to gridlock in Congress.  There would likely be a lack of Republican support for this aid because of its goal of limiting climate change, and there could also be possible opposition from some moderate Democrats. 

 

Strategy Two: Regulate banks who choose to finance oil exploration and production in the Amazon. This solution may also include subsidizing banks to finance oil exploration in more environmentally friendly locations.

            Pros: According to AmazonWatch, several banks with significant connections to the United States have chosen to finance oil exploration in the Amazon. These banks include BNP Paribas, Credit Suisse, Goldman Sachs, JPMorgan Chase, Crédit Agricole, Deutsche Bank, and UBS who all hold bonds issued to one of Ecuador’s largest oil companies.[12] Much of the oil exploration takes place in national parks and UNESCO bio reserves, demonstrating how environmentally dangerous these operations are. Furthermore, some oil organizations that these banks work with have a track record of oil spills and the use of paramilitary forces near Indigenous groups settlements, increasing the already detrimental social and environmental impacts that exist. In the past, some of these same banks have adopted article exclusion policies, which prohibit financing of oil exploration and production in the arctic.[13] If these same standards cannot be upheld for the Amazon, the United States federal government should limit or significantly reduce subsidies available to banks and impose persuasive restrictions on their deposits and loans sector.

            Cons: The disadvantage of bank regulation has much to do with the broader economy and energy markets. Setting environmental limitations on major banks that have operations in the United States may in turn lead to them looking for profits elsewhere. This may come at a cost to the consumers, firms, and even government bodies who work with them. Also, there is an argument to be made that oil discovery is the current greatest need in our economy. While energy prices continue to remain elevated, any new source of production would likely be beneficial in lowering costs to millions of people struggling to keep up with the additional costs of energy consumption. This option must essentially weigh what's more important, inflated prices or the environment.

 

Strategy Three: Placing economic sanctions on the President of Brazil, the banks/investors who support the deforestation, and Brazil as a whole, in order to slow the deforestation.

            The Amazon rain forest according to some scientists is inching closer and closer to “the point of no return”.[14] In January of 2022, the Amazon lost 166 square miles of forest to deforestation.[15] The issue of deforestation has been seen in the Amazon since the 1960’s but things have gotten progressively worse under President Bolsonaro, especially in 2021. Bolsonaro and his government have severely limited the authority that the environmental agencies in Brazil have in order to quell any opposition to the deforestation.[16] The deforestation in Brazil is not just tied to Brazil and their government. In fact, banks and investors have provided billions of dollars to a handful of different groups who are associated with deforestation in the Amazon. As it stands, there is very little in the way of penalties for banks and investors handing money over to groups connected to deforestation.[17] Setting sanctions on these groups associated with deforestation, especially those listed as making a combined $157 billion since the Paris Climate Accord, could halt and dissuade other firms/groups from following in their footsteps.[18] The banks also profit off their involvement in the deforestation of Brazil and the Amazon as they acquire funds through “…interest, fees and dividends”. “Investors” such as the beef industry have stuck their hand into the mess, through purchasing beef from ranches which solely exist due to deforestation in the Amazon.[19]

Pros: The setting of sanctions on Brazil itself may dissuade some partner countries to halt their imports of wood, and beef from Brazil. President Bolsonaro has more recently allowed more and more previous illegal activities to become legal, suspending penalties for those who commit “illegal” acts in the Amazon. For example, the President has legalized public land grabbing in the Amazon which, in turn, promotes deforestation as that is how one “claims” their territory.[20] Setting hard economic sanctions against President Bolsonaro could be an effective strategy in limiting his personal gains and status on the world stage. Likewise, he is up for election in 2022, setting sanctions on the country, and the President himself could have far reaching effects such as losing public support, possibly leading him to not be re-elected.[21] Setting sanctions on President Bolsonaro could also result in him realizing that he needs to do something to protect himself. Setting mass sanctions against the country could work in terms of slowing/halting deforestation if the U.S. cooperates with allied countries through sanctioning Brazil. Setting sanctions on certain banks and investors (such as beef giants) who have historically been involved in supplying Brazilian groups with bundles of money to assist with deforestation such as in the U.K. and other foreign countries, could slow the deforestation.[22] Setting sanctions on entities (including the President and the country itself) involved with the deforestation in Brazil would put into action the Biden Administrations promise to attack climate change issues.

            Cons: Unfortunately, sanctions will most likely not deter Brazil’s’ bigger partner countries from dealing with them. As of 2021, China remains one of Brazil’s largest export markets and this shows little signs of slowing down.[23] Setting sanctions on Brazil as a whole could have negative consequences, such as further defunding of the IBAMA and the INPE, two organizations within Brazil responsible for “combating illegal land clearing and monitoring deforestation…”.[24] In recent years, the Brazilian government has already began cutting the budgets for these organizations in an attempt to face less of an opposition when it comes to deforestation. Setting sanctions on Brazil and Bolsonaro could be to the detriment of the U.S. as President Biden has acknowledged that he hopes to build a stronger relationship with the country of Brazil. The implementation of sanctions would surely mark the end of the opportunities that Brazil would have in receiving aid of $20 billion from the U.S. in an effort to protect the Amazon, which would go against what the U.S. is trying to achieve in Brazil.[25] As always, sanctions on a country can have unintended effects on the general public which is something which needs to be considered. Likewise, sanctioning the banks and firms that fund the deforestation could have unintended consequences on the country as a whole seeing as Brazil gets billions of dollars from them in support.

 

 

Recommendation:

We recommend that the Biden Administration provides foreign aid to Brazil in order to prevent further deforestation.

 

Implementation: The Biden Administration would have to negotiate a deal with Brazil to acquire and send environmental and financial assets (Advisors, Funds, Environmentally-Friendly Products, etc.). Once a deal has been negotiated and the assets have been sent, the U.S and Brazil need to work closely to ensure that these resources are being utilized for their intended purposes and not being either exploited or misused. To ensure this, U.S representatives and environmental organizations will need to be allowed to advise, assist, and observe the developing situation with Brazil. In addition, assessments will need to be made on a regular basis to ensure progress is indeed being made.

 

Talking Points:

·       Image on the World Stage: If the United States is to get involved in the issue of slowing/stopping the mass deforestation in Brazil, especially in the Amazon Rainforest, it could boost the U.S.’s global image as a country who cares about the climate, and the overall wellbeing of future generations.

·       Building a Stable Relationship: If the U.S. is able to follow through with the option of providing 20 billion USD to the country of Brazil to help stop deforestation, the move could help build a bridge between both President Biden and President Bolsonaro. Currently, the two leaders are not on the same page and by pledging assistance to Brazil, this could certainly be a step in the right direction.

·       Better relations at home: If the aid of $20 billion passes through Congress, this could be a potential building block for better relations here at home in a Congress that has had difficult times agreeing on important world issues.

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[1] Harvey, Fiona. “IPCC Report: 'Now or Never' If World Is to Stave off Climate Disaster.” The Guardian, Guardian News and Media, 4 Apr. 2022, https://www.theguardian.com/environment/2022/apr/04/ipcc-report-now-or-never-if-world-stave-off-climate-disaster.

[2] Harvey, Fiona. “IPCC Report: 'Now or Never' If World Is to Stave off Climate Disaster.” The Guardian, Guardian News and Media, 4 Apr. 2022, https://www.theguardian.com/environment/2022/apr/04/ipcc-report-now-or-never-if-world-stave-off-climate-disaster.

 

[3] Watts, Jonathan. “Amazon Rainforest 'Will Collapse If Bolsonaro Remains President'.” The Guardian, Guardian News and Media, 14 July 2021, https://www.theguardian.com/environment/2021/jul/14/amazon-rainforest-will-collapse-if-bolsonaro-remains-president.

[4] Andersen, Lykke E. “The Causes of Deforestation in the Brazilian Amazon.” The Journal of Environment & Development, vol. 5, no. 3, 1996, pp. 309–28, http://www.jstor.org/stable/44319228. Accessed 16 Apr. 2022.

[5] Watts, Jonathan. “Amazon Rainforest 'Will Collapse If Bolsonaro Remains President'.” The Guardian, Guardian News and Media, 14 July 2021, https://www.theguardian.com/environment/2021/jul/14/amazon-rainforest-will-collapse-if-bolsonaro-remains-president.

[6] Watts, Jonathan. “Amazon Rainforest 'Will Collapse If Bolsonaro Remains President'.” The Guardian, Guardian News and Media, 14 July 2021, https://www.theguardian.com/environment/2021/jul/14/amazon-rainforest-will-collapse-if-bolsonaro-remains-president.

[7] de Melo, Maria Cristina Pereira, et al. “The Political Economy of Brazil-China Trade Relations, 2000–2010.” Latin American Perspectives, vol. 42, no. 6, 2015, pp. 64–87, http://www.jstor.org/stable/24574024. Accessed 16 Apr. 2022.

[8] Maurice R. Greenberg Center for Geoeconomic Studies, “Reducing Deforestation to Fight Climate Change,” Council on Foreign Relations, 2015, http://www.jstor.org/stable/resrep16756

[9] Maurice R. Greenberg Center for Geoeconomic Studies, “Reducing Deforestation to Fight Climate Change,” Council on Foreign Relations, 2015, http://www.jstor.org/stable/resrep16756; Doug Boucher, Pipa Elias, Jordan Faires, and Sharon Smith, “Brazil: The World’s Biggest Reductions in Deforestation and Emissions,” Deforestation Success Stories: Tropical Nations Where Forest Protection and Reforestation Policies Have Worked, Union of Concerned Scientists, 2014, http://www.jstor.org/stable/resrep00076.7.

[10] Doug Boucher, Pipa Elias, Jordan Faires, and Sharon Smith, “Brazil: The World’s Biggest Reductions in Deforestation and Emissions,” Deforestation Success Stories: Tropical Nations Where Forest Protection and Reforestation Policies Have Worked, Union of Concerned Scientists, 2014, http://www.jstor.org/stable/resrep00076.7.

[11] Marcelo Rochabrun, "Brazil seeks $1 bln in foreign aid to curb Amazon deforestation by 30-40% -environmental minister,” Reuters, published 8 April 2021, https://www.reuters.com/business/environment/brazil-seeks-1-bln-foreign-aid-curb-amazon-deforestation-by-30-40-environmental-2021-04-08/

[12] Watch, Amazon “Banking on Amazon Destruction.” Amazon Watch, 4 Nov. 2021, https://amazonwatch.org/news/2021/0708-banking-on-amazon-destruction.

[13] Watch, Amazon. “Banking on Amazon Destruction.” Amazon Watch, 4 Nov. 2021, https://amazonwatch.org/news/2021/0708-banking-on-amazon-destruction.

[14] Diana Roy, “Deforestation of Brazil's Amazon Has Reached a Record High. What's Being Done?,” Council on Foreign Relations (Council on Foreign Relations, March 27, 2022), https://www.cfr.org/in-brief/deforestation-brazils-amazon-has-reached-record-high-whats-being-done.

[15] Diana Roy, “Deforestation of Brazil's Amazon Has Reached a Record High. What's Being Done?,” Council on Foreign Relations (Council on Foreign Relations, March 27, 2022), https://www.cfr.org/in-brief/deforestation-brazils-amazon-has-reached-record-high-whats-being-done.

[16] Ryan Richards and Mikyla Reta, “Charting a New Course for U.S.-Brazil Action on the Amazon,” Center for American Progress, November 9, 2021, https://www.americanprogress.org/article/charting-new-course-u-s-brazil-action-amazon/.

[17] “Deforestation Dividends: How Global Banks Profit from Rainforest Destruction and Human Rights Abuses,” Global Witness, October 21, 2021, https://www.globalwitness.org/en/campaigns/forests/deforestation-dividends/#resource-library.

[18] “Deforestation Dividends: How Global Banks Profit from Rainforest Destruction and Human Rights Abuses,” Global Witness, October 21, 2021, https://www.globalwitness.org/en/campaigns/forests/deforestation-dividends/#resource-library.

[19] “Deforestation Dividends: How Global Banks Profit from Rainforest Destruction and Human Rights Abuses,” Global Witness, October 21, 2021, https://www.globalwitness.org/en/campaigns/forests/deforestation-dividends/#resource-library.

[20] “Deforestation and Land-Grabbing in the Amazon during COVID-19,” Wilson Center (The Brazilian Report, June 23, 2020), https://www.wilsoncenter.org/blog-post/deforestation-and-land-grabbing-amazon-during-covid-19.

[21] Diana Roy, “Deforestation of Brazil's Amazon Has Reached a Record High. What's Being Done?,” Council on Foreign Relations (Council on Foreign Relations, March 27, 2022), https://www.cfr.org/in-brief/deforestation-brazils-amazon-has-reached-record-high-whats-being-done.

[22] “Deforestation Dividends: How Global Banks Profit from Rainforest Destruction and Human Rights Abuses,” Global Witness, October 21, 2021, https://www.globalwitness.org/en/campaigns/forests/deforestation-dividends/#resource-library.

[23] Ryan Richards and Mikyla Reta, “Charting a New Course for U.S.-Brazil Action on the Amazon,” Center for American Progress, November 9, 2021, https://www.americanprogress.org/article/charting-new-course-u-s-brazil-action-amazon/.

[24] Ryan Richards and Mikyla Reta, “Charting a New Course for U.S.-Brazil Action on the Amazon,” Center for American Progress, November 9, 2021, https://www.americanprogress.org/article/charting-new-course-u-s-brazil-action-amazon/.

[25] Ryan Richards and Mikyla Reta, “Charting a New Course for U.S.-Brazil Action on the Amazon,” Center for American Progress, November 9, 2021, https://www.americanprogress.org/article/charting-new-course-u-s-brazil-action-amazon/.

Works Cited:

Andersen, Lykke E. “The Causes of Deforestation in the Brazilian Amazon.” The Journal of Environment & Development, vol. 5, no. 3, 1996, pp. 309–28, http://www.jstor.org/stable/44319228. Accessed 16 Apr. 2022.

 

Barbier, Edward B., Joanne C. Burgess, and Anil Markandya. “The Economics of Tropical Deforestation.” Ambio 20, no. 2 (1991): 55–58. http://www.jstor.org/stable/4313776.

 

Boucher, Doug, Pipa Elias, Jordan Faires, and Sharon Smith. “Brazil: The World’s Biggest Reductions in Deforestation and Emissions.” Deforestation Success Stories: Tropical Nations Where Forest Protection and Reforestation Policies Have Worked. Union of Concerned Scientists, 2014. http://www.jstor.org/stable/resrep00076.7.

 

“Brazil Leader Jair Bolsonaro Accused of ‘Crimes against Humanity’ for Amazon Deforestation.” CBS News, CBS Interactive, 12 Oct. 2021, https://www.cbsnews.com/news/brazil-jair-bolsonaro-accused-crimes-against-humanity-amazon-deforestation/.

 

“Deforestation and Land-Grabbing in the Amazon during COVID-19.” Wilson Center. The Brazilian Report, June 23, 2020. https://www.wilsoncenter.org/blog-post/deforestation-and-land-grabbing-amazon-during-covid-19.

 

“Deforestation Dividends: How Global Banks Profit from Rainforest Destruction and Human Rights Abuses.” Global Witness, October 21, 2021. https://www.globalwitness.org/en/campaigns/forests/deforestation-dividends/#resource-library.

“Deforestation in the Amazon.” Amazon Conservation Association, 30 Apr. 2021, https://www.amazonconservation.org/the-challenge/threats/.

 

de Melo, Maria Cristina Pereira, et al. “The Political Economy of Brazil-China Trade Relations, 2000–2010.” Latin American Perspectives, vol. 42, no. 6, 2015, pp. 64–87, http://www.jstor.org/stable/24574024. Accessed 16 Apr. 2022.

 

Harvey, Fiona. “IPCC Report: 'Now or Never' If World Is to Stave off Climate Disaster.” The Guardian, Guardian News and Media, 4 Apr. 2022, https://www.theguardian.com/environment/2022/apr/04/ipcc-report-now-or-never-if-world-stave-off-climate-disaster.

 

Maurice R. Greenberg Center for Geoeconomic Studies. “Reducing Deforestation to Fight Climate Change.” Council on Foreign Relations, 2015. http://www.jstor.org/stable/resrep16756.

 

Richards, Ryan, and Mikyla Reta. “Charting a New Course for U.S.-Brazil Action on the Amazon.” Center for American Progress, November 9, 2021. https://www.americanprogress.org/article/charting-new-course-u-s-brazil-action-amazon/.

Rochabrun, Marcelo.  "Brazil seeks $1 bln in foreign aid to curb Amazon deforestation by 30-40% -environmental minister." Reuters.  Published 8 April 2021.  https://www.reuters.com/business/environment/brazil-seeks-1-bln-foreign-aid-curb-amazon-deforestation-by-30-40-environmental-2021-04-08/

 

Roy, Diana. “Deforestation of Brazil's Amazon Has Reached a Record High. What's Being Done?” Council on Foreign Relations. Council on Foreign Relations, March 27, 2022. https://www.cfr.org/in-brief/deforestation-brazils-amazon-has-reached-record-high-whats-being-done.

Souza Ferreira Filho, Joaquim Bento de, Luis Ribera, and Mark Horridge. “Deforestation Control and Agricultural Supply in Brazil.” American Journal of Agricultural Economics 97, no. 2 (2015): 589–601. http://www.jstor.org/stable/24476502.

 

Watch, Amazon. “Banking on Amazon Destruction.” Amazon Watch, 4 Nov. 2021, https://amazonwatch.org/news/2021/0708-banking-on-amazon-destruction.

 

Watts, Jonathan. “Amazon Rainforest 'Will Collapse If Bolsonaro Remains President'.” The Guardian, Guardian News and Media, 14 July 2021, https://www.theguardian.com/environment/2021/jul/14/amazon-rainforest-will-collapse-if-bolsonaro-remains-president.

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[1] Harvey, Fiona. “IPCC Report: 'Now or Never' If World Is to Stave off Climate Disaster.” The Guardian, Guardian News and Media, 4 Apr. 2022, https://www.theguardian.com/environment/2022/apr/04/ipcc-report-now-or-never-if-world-stave-off-climate-disaster.

[2] Harvey, Fiona. “IPCC Report: 'Now or Never' If World Is to Stave off Climate Disaster.” The Guardian, Guardian News and Media, 4 Apr. 2022, https://www.theguardian.com/environment/2022/apr/04/ipcc-report-now-or-never-if-world-stave-off-climate-disaster.

 

[3] Watts, Jonathan. “Amazon Rainforest 'Will Collapse If Bolsonaro Remains President'.” The Guardian, Guardian News and Media, 14 July 2021, https://www.theguardian.com/environment/2021/jul/14/amazon-rainforest-will-collapse-if-bolsonaro-remains-president.

[4] Andersen, Lykke E. “The Causes of Deforestation in the Brazilian Amazon.” The Journal of Environment & Development, vol. 5, no. 3, 1996, pp. 309–28, http://www.jstor.org/stable/44319228. Accessed 16 Apr. 2022.

[5] Watts, Jonathan. “Amazon Rainforest 'Will Collapse If Bolsonaro Remains President'.” The Guardian, Guardian News and Media, 14 July 2021, https://www.theguardian.com/environment/2021/jul/14/amazon-rainforest-will-collapse-if-bolsonaro-remains-president.

[6] Watts, Jonathan. “Amazon Rainforest 'Will Collapse If Bolsonaro Remains President'.” The Guardian, Guardian News and Media, 14 July 2021, https://www.theguardian.com/environment/2021/jul/14/amazon-rainforest-will-collapse-if-bolsonaro-remains-president.

[7] de Melo, Maria Cristina Pereira, et al. “The Political Economy of Brazil-China Trade Relations, 2000–2010.” Latin American Perspectives, vol. 42, no. 6, 2015, pp. 64–87, http://www.jstor.org/stable/24574024. Accessed 16 Apr. 2022.

[8] Maurice R. Greenberg Center for Geoeconomic Studies, “Reducing Deforestation to Fight Climate Change,” Council on Foreign Relations, 2015, http://www.jstor.org/stable/resrep16756

[9] Maurice R. Greenberg Center for Geoeconomic Studies, “Reducing Deforestation to Fight Climate Change,” Council on Foreign Relations, 2015, http://www.jstor.org/stable/resrep16756; Doug Boucher, Pipa Elias, Jordan Faires, and Sharon Smith, “Brazil: The World’s Biggest Reductions in Deforestation and Emissions,” Deforestation Success Stories: Tropical Nations Where Forest Protection and Reforestation Policies Have Worked, Union of Concerned Scientists, 2014, http://www.jstor.org/stable/resrep00076.7.

[10] Doug Boucher, Pipa Elias, Jordan Faires, and Sharon Smith, “Brazil: The World’s Biggest Reductions in Deforestation and Emissions,” Deforestation Success Stories: Tropical Nations Where Forest Protection and Reforestation Policies Have Worked, Union of Concerned Scientists, 2014, http://www.jstor.org/stable/resrep00076.7.

[11] Marcelo Rochabrun, "Brazil seeks $1 bln in foreign aid to curb Amazon deforestation by 30-40% -environmental minister,” Reuters, published 8 April 2021, https://www.reuters.com/business/environment/brazil-seeks-1-bln-foreign-aid-curb-amazon-deforestation-by-30-40-environmental-2021-04-08/

[12] Watch, Amazon “Banking on Amazon Destruction.” Amazon Watch, 4 Nov. 2021, https://amazonwatch.org/news/2021/0708-banking-on-amazon-destruction.

[13] Watch, Amazon. “Banking on Amazon Destruction.” Amazon Watch, 4 Nov. 2021, https://amazonwatch.org/news/2021/0708-banking-on-amazon-destruction.

[14] Diana Roy, “Deforestation of Brazil's Amazon Has Reached a Record High. What's Being Done?,” Council on Foreign Relations (Council on Foreign Relations, March 27, 2022), https://www.cfr.org/in-brief/deforestation-brazils-amazon-has-reached-record-high-whats-being-done.

[15] Diana Roy, “Deforestation of Brazil's Amazon Has Reached a Record High. What's Being Done?,” Council on Foreign Relations (Council on Foreign Relations, March 27, 2022), https://www.cfr.org/in-brief/deforestation-brazils-amazon-has-reached-record-high-whats-being-done.

[16] Ryan Richards and Mikyla Reta, “Charting a New Course for U.S.-Brazil Action on the Amazon,” Center for American Progress, November 9, 2021, https://www.americanprogress.org/article/charting-new-course-u-s-brazil-action-amazon/.

[17] “Deforestation Dividends: How Global Banks Profit from Rainforest Destruction and Human Rights Abuses,” Global Witness, October 21, 2021, https://www.globalwitness.org/en/campaigns/forests/deforestation-dividends/#resource-library.

[18] “Deforestation Dividends: How Global Banks Profit from Rainforest Destruction and Human Rights Abuses,” Global Witness, October 21, 2021, https://www.globalwitness.org/en/campaigns/forests/deforestation-dividends/#resource-library.

[19] “Deforestation Dividends: How Global Banks Profit from Rainforest Destruction and Human Rights Abuses,” Global Witness, October 21, 2021, https://www.globalwitness.org/en/campaigns/forests/deforestation-dividends/#resource-library.

[20] “Deforestation and Land-Grabbing in the Amazon during COVID-19,” Wilson Center (The Brazilian Report, June 23, 2020), https://www.wilsoncenter.org/blog-post/deforestation-and-land-grabbing-amazon-during-covid-19.

[21] Diana Roy, “Deforestation of Brazil's Amazon Has Reached a Record High. What's Being Done?,” Council on Foreign Relations (Council on Foreign Relations, March 27, 2022), https://www.cfr.org/in-brief/deforestation-brazils-amazon-has-reached-record-high-whats-being-done.

[22] “Deforestation Dividends: How Global Banks Profit from Rainforest Destruction and Human Rights Abuses,” Global Witness, October 21, 2021, https://www.globalwitness.org/en/campaigns/forests/deforestation-dividends/#resource-library.

[23] Ryan Richards and Mikyla Reta, “Charting a New Course for U.S.-Brazil Action on the Amazon,” Center for American Progress, November 9, 2021, https://www.americanprogress.org/article/charting-new-course-u-s-brazil-action-amazon/.

[24] Ryan Richards and Mikyla Reta, “Charting a New Course for U.S.-Brazil Action on the Amazon,” Center for American Progress, November 9, 2021, https://www.americanprogress.org/article/charting-new-course-u-s-brazil-action-amazon/.

[25] Ryan Richards and Mikyla Reta, “Charting a New Course for U.S.-Brazil Action on the Amazon,” Center for American Progress, November 9, 2021, https://www.americanprogress.org/article/charting-new-course-u-s-brazil-action-amazon/.