"‘We need them to keep it in the ground,’ Hoyer told CNN – speaking about preventing countries from cutting down trees. ‘The first step [is] stop losing the forest.’"

“Hoyer's bill deals with the immediate need to stop deforestation, but it also encourages countries to reforest their lands as well. In addition to planting trees, countries could also be encouraged to plan other land-based carbon sinks including grasslands, peat, and mangroves.”

“The ‘America Mitigating and Achieving Zero-emissions Originating from Nature for the 21st Century Act,’ or ‘AMAZON21,’ would authorize $9 billion to assist the international community in forest conservation efforts.”

“The bill Hoyer unveiled today would offer incentives for countries to keep their forests intact rather than cut down trees to accommodate anything from new building developments to energy extraction activities. The $9 billion trust fund would go toward helping these countries turn their forests into “assets” on which they could receive money while also helping the planet.”

“‘It’s an idea that’s been sort of germinating a long time with me, and a commonsense awareness that if a country’s asset is a forest, and it wants to make it a farm or wants to make it a mine or do something else with it — but we need them to keep it there — we are asking them to do stuff we didn’t do,’ Hoyer explained. ‘And if we don’t monetize that, the probability of being able to enforce it are very small.”

“Hoyer’s proposal also takes seriously the enforcement component, with the congressman noting that ‘AMAZON21’ would call for the deployment of ‘drones and satellites’ among the mechanisms to ensure countries receiving money to retain their forests are, in fact, retaining them.”  

“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.”  

“What's in it: Hoyer's legislation would establish a $9 billion trust fund at the US State Department to finance forest conservation projects in partnership with developing countries around the world, the same amount Biden said the US should contribute.”

“‘Addressing the critical challenge of deforestation is an issue I have cared deeply about for many years,’ Hoyer said in a statement. ‘This is an issue that demands urgent action and long-term commitment as part of the broader global effort to confront the climate crisis.’"  

“‘At COP26 yesterday, we saw world leaders from more than 100 nations commit to ending deforestation by 2030, and President Biden committed to investing $9 billion in the global fight against deforestation.  The Congress of the United States is ready to back up President Biden’s commitments with concrete action,’ [Hoyer] added.”  

“The America Mitigating and Achieving Zero-emissions Originating from Nature for the 21st Century (AMAZON21) Act will also help developing economies partake in carbon markets through a training program at USAID.”