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The Combatting Global Deforestation Act of 2024 establishes a Verified International Forest Ecosystem Services Conservation Program administered by the Secretary of State to provide outcome-oriented financial assistance to developing countries for forest conservation, restoration, and emissions reduction projects. The program would fund eligible projects through contingent payments tied to independently verified results, with emphasis on protecting natural forests, indigenous lands, and terrestrial ecosystems while excluding tree plantations. The bill includes safeguards for transparency, environmental and social standards, and anti-corruption measures, and aims to counterbalance investments from countries of concern (Russia, China, North Korea, Iran, Venezuela, Cuba) in activities that degrade forests.
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