Lugar, Kerry Work to Reauthorize Tropical Forest Conservation Act

Press Release

Lugar, Kerry Work to Reauthorize Tropical Forest Conservation Act

U.S. Sen. Dick Lugar (R-IN), the ranking Republican on the Senate Foreign Relations Committee, today joined with the Committee Chairman John Kerry (D-MA) to further the cause of tropical rain forest conservation and broaden the initiative to protect coral reefs.

Lugar and Kerry introduced legislation in the Senate to reauthorize the Tropical Rain Forest conservation Act of 1998 (TFCA) for an additional three years. Since Lugar and former Sen. Joe Biden initiated TFCA more than a decade ago, more than 50 million acres of tropical forests around the world have been conserved through country "debt-for-nature swaps."

"This bill reauthorizes a proven program which enjoys the ardent support of the Treasury Department and State Department for the third time since 1998. It will help developing countries protect tropical forests and endangered marine habitats around the world while reducing their foreign debt levels. This bill will also serve as an important diplomatic tool to provide for our national security," Lugar said.

Committee Chairman Kerry said, "Deforestation is a significant driver of global climate change, and we must pursue a variety of efforts to reduce emissions from deforestation in tropical and sub-tropical nations. This innovative program has provided critical support to developing countries in conserving their forest landscapes while reducing their debt burdens, and I am thrilled to join Senator Lugar in introducing this important legislation."

With TFCA, the U.S. State Department has reached agreements generating $188 million in long-term commitments for tropical forest conservation. In addition, private donors, including the Nature Conservancy, the World Wildlife Fund, the Wildlife Conservation Society, and Conservation International, have contributed more than $12 million to TFCA swaps, leveraging U.S. Government funds.

Fourteen TFCA agreements have been concluded to date in Bangladesh, El Salvador, Belize, Peru, the Philippines, Panama, Guatemala, Colombia, Paraguay, Botswana, Costa Rica, and Jamaica. With the reauthorization of TFCA, the U.S. Government will be able pursue agreements to conserve threatened coral reefs along with tropical forests.

The Tropical Forest and Coral Reef Conservation Act of 2009 authorizes appropriations for debt reduction for eligible countries at $25,000,000 in FY 2009; $30,000,000 in FY 2010; $30,000,000 in FY 2011; and $30,000,000 in FY 2012.

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