News In Brief:
– IFAD and a land conservation organisation have launched a compensation project in Brazil, investing $4.9 million to promote agroforestry in cocoa production areas.
– This Project aims to combat deforestation, alleviate poverty, and empower 1,600 local families through a payment for environmental services mechanism and sustainable practices.
The International Fund for Agricultural Development (IFAD) and the Land Conservation Organization (OCT) have initiated the CompensAÇÃO (CompensACTION) project in Bahia, Brazil. With a substantial investment of US$4.9 million from IFAD and the Republic of Germany, this endeavor aims to revolutionize cocoa production areas, particularly in the Atlantic Forest biome.
The Atlantic Forest biome faces severe threats from deforestation, with 88% of its original cover lost, the United Natrions agency claimed. Meanwhiel, poverty rates in Bahia remain alarming, with nearly half the population living in poverty. The project seeks to address these intertwined challenges by promoting agroforestry transition in cocoa production areas.
Addressing deforestation and poverty
CompensAÇÃO will directly impact 1,600 families, including smallholder farmers, quilombolas, and agrarian reform settlers. By providing incentives for ecosystem services through reforestation materials and cash compensation, the project aims to improve living conditions and reduce vulnerability to climate change.
A pioneering aspect of the project is the Payment for Environmental Services (PES) mechanism, blending monetary and non-monetary incentives to conserve forests. By integrating agroforestry practices and enhancing forest diversity, CompensAÇÃO aims to ensure the sustainability of both ecosystems and livelihoods.
The project not only focuses on immediate economic benefits but also emphasises long-term sustainability. Through diversified and climate-resilient agricultural practices, it seeks to bolster incomes while conserving natural resources. By providing training and technical support, CompensAÇÃO aims to empower local communities to lead the way in sustainable development.
As IFAD Country Director for Brazil, Claus Reiner highlights the project’s commitment to ecological principles and participatory governance. By fostering partnerships and institutional agreements, CompensAÇÃO aims to pave the way for sustainable economic and climate development in Bahia.
