First on CNN: Rep. Hoyer will introduce $9 billion bill to meet Biden's COP26 deforestation pledge

4 weeks ago 24

(CNN)After President Joe Biden entered the US into a planetary pledge astatine COP26 to extremity and reverse deforestation, a apical Democrat successful the House plans to present a measure Wednesday to enactment fiscal value down Biden's commitment.

House Majority Leader Steny Hoyer's authorities would found a $9 cardinal spot money astatine the US State Department to concern bilateral wood conservation projects with processing countries astir the world, the aforesaid magnitude Biden said the US should contribute.

"We request them to support it successful the ground," Hoyer told CNN -- speaking astir preventing countries from cutting down trees. "The archetypal measurement [is] halt losing the forest."

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    More than 100 satellite leaders representing implicit 85% of the planet's forests committed this week to ending and reversing deforestation and onshore degradation by 2030. It was the archetypal important woody announced astatine the COP26 clime acme successful Glasgow.

      Twelve parties to the statement -- including the US and EU -- committed $12 cardinal successful nationalist backing to support and reconstruct forests, successful summation to $7.2 cardinal of backstage capital. In summation to Biden's pledge, European Commission President Ursula von der Leyen pledged the EU would walk $1.1 cardinal implicit 5 years to assistance support forests worldwide, including $290 cardinal for the Congo Basin alone.

      Speaking Tuesday morning, Biden said countries request to attack deforestation "with the aforesaid seriousness of intent arsenic decarbonizing our economies."

      "If we each enactment unneurotic to marque definite these precious resources are conserved successful Africa and astir the world, forests person the imaginable to trim c globally by much than 1 third," Biden said.

      Hoyer is proposing a spot money exemplary due to the fact that US appropriations usually lasts astir 5 years -- which isn't agelong capable to prolong a bilateral financing statement with different countries.

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      "We picked $9 billion; I deliberation it's going to instrumentality importantly much than that," Hoyer told CNN. "If you person a $9 cardinal appropriation, that runs retired soon, truthful this creates a spot money astatine the State Department to compensate."

      Hoyer's measure would springiness US backing to countries that tin show they are gathering goals to sphere forests, grasslands, and different land-based c sinks. Funding would lone beryllium granted if processing countries oregon communities tin show they've committed to antecedently agreed upon targets that tin besides beryllium independently verified.

      "That's going to necessitate an agreement, the monitoring of whether they're doing what they accidental they do," Hoyer told CNN, adding monitoring could beryllium done with outer imaging oregon in-person visits. "If I rent your forest, I privation to marque definite you don't chopped your wood down."

      Hoyer's measure deals with the contiguous request to halt deforestation, but it besides encourages countries to reforest their lands arsenic well. In summation to planting trees, countries could besides beryllium encouraged to program different land-based c sinks including grasslands, peat, and mangroves.

        "Once you halt the deforestation, it makes consciousness to proceed to guarantee you tin grow the wood due to the fact that they've been reduced truthful heavily," Hoyer said.

        Hoyer added his measure won't beryllium portion of Biden's economical and clime bill, which could beryllium coming up for a ballot successful the House arsenic soon arsenic this week, but it whitethorn beryllium approved arsenic portion of the yearly appropriations process.

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