Biden to Announce Conservation Funding in Historic Amazon Visit

(Bloomberg) — Joe Biden will announce new conservation efforts and funding when he becomes the first sitting US president to visit the Amazon on Sunday.

The US president is expected to visit a rainforest nature preserve and meet with local leaders engaged in conservation efforts. 

Brazilian President Luiz Inacio Lula da Silva, who’s championed climate change and protection of the world’s largest rainforest, won’t be joining Biden as he focuses on preparations for the Group of 20 summit in Rio de Janeiro, which starts on Monday. 

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Biden’s trip is intended “to underscore his personal commitment and America’s continuing commitment at all levels of government and across our private sector and civil society to combat climate change at home and abroad,” White House National Security Adviser Jake Sullivan told reporters last week. 

Biden is touting the delivery of more than $11 billion in climate finance, making good on his pledge to hit at least that level annually by 2024, up from $1.5 billion in fiscal 2021. That includes $3 billion to help poor countries adapt to the rising sea, more intense storms and other consequences of climate change — adaptation funding that has generally lagged behind money for green energy projects in developing nations.  

The outgoing president will also unveil other conservation efforts and support during his rainforest visit, including $50 million for the Amazon Fund — doubling US contributions to the initiative — and a $37.5 million loan from the Development Finance Corp. to support the planting of native trees on degraded grasslands in Brazil.  

The visit caps a push by Biden to help drive international funding for rainforest protection efforts. In 2023, he pledged to work with the US Congress to provide $500 million through 2028 for the Amazon Fund, an initiative by the Brazilian Development Bank that underwrites protection projects like indigenous forest management and small-scale farms.

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The US president made that pledge after meeting with Lula at the White House, when the Brazilian leader promised to restart conservation efforts that had languished under his predecessor, Jair Bolsonaro. Biden said he hoped to drive a total of $20 billion in public and private commitments to help the rainforest.  

But future federal funding is likely to face scrutiny from President-elect Donald Trump, who’s expressed skepticism about the impact of climate change as well as the benefit of foreign aid, and said he is planning severe cuts to the federal budget. Lula’s decision not to accompany Biden on the historic Amazon visit highlights the way Trump’s election victory has upended global affairs in general. 

Biden is also planning to highlight new domestic investments designed to help the environment as part of his trip.

On Thursday, the Department of Energy announced $18 million to fund block grants to local governments for energy efficiency projects, including recycling programs, energy efficiency rebate programs, and the purchase of greener street lighting and vehicles for municipal fleets.

The US Department of Agriculture also announced $256 million in funding for farmers and rural business owners to expand their use of wind, solar, and hydropower energy. Meantime, the Department of Transportation is providing $1.2 billion to states to underwrite the use of low-carbon building materials in infrastructure projects. 

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