Combatting Global Deforestation Act of 2024
This Act establishes an international program aimed at halting terrestrial ecosystem degradation and loss while increasing restoration efforts. The program offers outcome-oriented financial assistance to developing countries, meaning funds are disbursed only after independent verification of agreed-upon conservation goals. The Act also aims to counterbalance investments from countries of concern, such as China or Russia, that may utilize destructive industrial practices in partner countries.
Key points
Authorization of $875 million annually for fiscal years 2024–2027 to carry out the ecosystem conservation program.
Assistance is outcome-oriented: funds are expended only upon independent verification of measurable results (e.g., emissions reductions from deforestation).
Projects must secure additional funding from sources other than the U.S. Government amounting to at least 10% of the assistance provided.
The program aims to provide a counterbalance to investments from 'countries of concern' (including China, Russia, and Iran) that utilize destructive industrial practices.
Status:
Expired
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