Corporate giants such as Nestlē, Unilever, and Marks & Spencer have joined the Norwegian government in creating a fund to find deforestation in
Brazil.One of the largest contributors of shrinking rainforest acreage is local small scale farming. Should destruction of the rainforest continue, it could spell disaster for the planet’s only natural way to process greenhouse gases.
According to AFP, the Norwegian government has already kickstarted the fund with a $100 million contribution. Donations from the private sector are expected to supply the extra $300 million by 2020.
The money will go towards helping rainforest countries under the UN’s Paris Climate Agreement meet their promises and standards on schedule.
“The future of the planet depends on our common ability to both protect and restore forests at unprecedented scale,” Norwegian Prime Minister Erna Solberg said in a statement.