Brazil, Indonesia and Congo formed an alliance to protect rainforests

Brazil, Indonesia and Congo, countries with the world’s largest tropical forests, have - after a decade of negotiations - formed an alliance to cooperate on bioeconomy and the sustainable management, conservation and restoration of tropical forests and critical ecosystems.

The three countries reaffirmed their sovereignty and that they will follow their own climate commitments according to each country's Nationally Determined Contributions, and that they will work for a fair carbon ecosystem while taking into account their environmental commitments.

The alliance will work on the negotiation of a new sustainable funding mechanism under the provisions of the Convention on Biological Diversity Framework to generate new predictable, adequate and easily accessible multilateral funding resources to support developing countries.

Results-based payments to reduce deforestation and to maintain and conserve forest carbon stocks should lead to deliberations of a collective quantified goal of finance in the UNFCCC and its Paris Agreement, based on the principle of common but differentiated responsibilities.