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Smoke rising from an illegal fire at the Amazonia rainforest in Brazil on Sept. 15, 2021. Photo: Mauro Pimentel/AFP via Getty Images

After President Biden signed onto a global pledge to halt and reverse deforestation by 2030, Rep. Steny Hoyer (D-Md.), number two in House leadership, unveiled legislation that would authorize funding to go toward that goal.

Why it matters: The legislation, known as AMAZON21, would authorize the creation of a $9 billion State Department trust fund and would create a technical assistance program under USAID.

Details: Under the bill, the State Department would sign long-term bilateral agreements with countries and subnational regions to finance bilateral forest conservation and carbon sequestration projects that help to end deforestation, and potentially cut large quantities of greenhouse gas emissions.

Hoyer said the bill would get around the limitations imposed by the congressional appropriations process to help create a stable, long-term funding stream to support forest conservation. The legislation envisions using satellite monitoring to help ensure countries are complying with the agreements they sign.

  • "We have to make sure that countries have a financial incentive not to take out of the ground, something that we need in the ground growing, and making our environment more conducive to long-term survival," Hoyer said.
  • He says he's been in discussions with the Biden administration about the legislation. "I think we're going to work closely together and try to get this done. It'll be part of our green initiatives," he told Axios.

Editors note: This story was updated to clarify the management of the trust fund and USAID's role.

Go deeper

Updated Nov 4, 2021 - Politics & Policy

The major climate pledges made at COP26 so far

British Prime Minister Boris Johnson, India Prime Minister Narendra Modi and UN Secretary-General António Guterres at COP26 on Nov. 1. Photo: Alastair Grant /Getty Images

A global effort to halt and reverse deforestation. A 100+ country voluntary pact to slash methane emissions. And a commitment from India to reduce its emissions to net zero by 2070. The COP26 pledges, both public and private, have started to roll in as world leaders, diplomats and others meet in Glasgow, Scotland, to address climate change.

Why it matters: The UN summit is seen as crucial — "the last, best hope for securing the global commitments needed to get countries on track to avoid potentially catastrophic levels of climate change during the next several decades," reports Axios' Andrew Freedman.

Dan Primack, author of Pro Rata
35 mins ago - Politics & Policy

Trump social media group raises $1 billion from undisclosed investors

Illustration: Sarah Grillo/Axios

Donald Trump's social media startup on Saturday announced that it secured $1 billion in new investment as part of its ongoing efforts to become publicly traded via a blank check company.

Between the lines: None of the investors were identified, which is highly unusual for this sort of transaction.

Updated 2 hours ago - Health

Massage, facial, pedicure... intravenous drip?

A salon on the Upper East Side of New York that offers IV drip therapies. Photo: Jennifer A. Kingson/Axios

IV drips — the kind you might get if you're rushed to the hospital — are trending as a spa treatment, thanks in part to endorsements by celebrities like Kim Kardashian and Madonna.

Why it matters: Like other "wellness" trends with a whiff of medical imprimatur, IV nutrient drips can be harmless or mildly restorative — or go awry, particularly in the wrong hands.