Biden-Lugar “Tropical Forest & Coral Conservation Act” Passes Senate Committee
September 17, 2007
Sep. 17: The Senate Foreign Relations Committee, on which Democratic presidential candidate Sen. Joe Biden serves as Chairman, has approved the “Tropical Forest and Coral Conservation Act of 2007,” which was introduced last week by Senators Biden and Dick Lugar (R-IN).
This environmentally-sound legislation, titled S. 2020, will protect tropical forests and coral reefs worldwide. “Tropical forests are essential to our own well-being,” explained Sen. Biden. Trees absorb carbon dioxide, a major contributor to global warming.
This bill reauthorizes the Tropical Forest Conservation Act of 1998 (TFCA). Since its inception, TFCA has been responsible for conserving over 47 million acres of tropical forests around the world through “debt-for-nature swaps” in developing countries. The inclusion of coral reefs under the scope of TFCA is designed to encourage the conservation of these endangered marine environments as well.
As a result of TFCA, the U.S. State Department has been able to reach bilateral agreements with twelve countries to date, resulting in over $137 million in long-term commitments to conserve tropical forests. The current reauthorization of TFCA makes it possible to pursue agreements with Brazil and Indonesia to protect their coral reefs, both of which are under severe pressure.
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