Portman, Bipartisan Colleagues Introduce Conservation Legislation to Protect Tropical Forests & Coral Reef Ecosystems

Press Release

Today, U.S. Senator Rob Portman (R-OH), along with Senators Tom Udall (D-NM), Richard Burr (R-NC), Brian Schatz (D-HI), and Sheldon Whitehouse (D-RI) introduced the Tropical Forest and Coral Reef Conservation Reauthorization Act of 2020. U.S. Representatives Steve Chabot (R-OH) and Brad Sherman (D-CA) are expected to introduce the companion legislation in the House this week.

This legislation reauthorizes a program, known as a debt-for-nature-swap, that allows developing countries that meet certain criteria to be relieved of debt owed to the United States in exchange for protecting and preserving tropical forests and coral reefs. This legislation reauthorizes the program, which was first created in 1998, for FY 2021 through FY 2025, at $20 million per year. Since its inception in 1998, this program has helped protect more than 67 million acres of tropical forests, which has not only preserved native wildlife and ecosystems, but has also helped protect the environment by sequestering over 50 million metric tons of carbon dioxide, which is the equivalent of taking more than 11 million cars off the road. Coral reefs were recently added to the program through legislation authored by Senators Portman, Udall, Burr, Schatz, and Whitehouse, along with Representatives Chabot and Sherman, that was signed into law in January 2019.

"This bipartisan legislation takes significant strides to protect our natural resources for the next generation while strengthening ties with countries that could become significant economic and national security partners with the United States," said Portman, Co-Chair of the International Conservation Caucus. "This is a common-sense and proven approach that has protected millions of acres of tropical forest from deforestation -- one of the leading causes of greenhouse gas emissions. I want to thank Senator Udall, Burr, and Schatz for their ongoing support of this legislation and urge my colleagues to join us in ensuring that our natural resources are protected and preserved for the next generation."

"We must protect tropical forests and coral reefs not only for wildlife survival but also human health and prosperity," Udall said. "This bipartisan legislation strengthens global partnerships to preserve the tropical forests, beautiful coral reefs and other natural resources that we cherish and all need to lead healthy lives. This bill aligns with a wider call for the United States to lead a new, enhanced focus on conservation to make sure our children inherit a livable and productive planet. Investing in protecting the natural world in order to protect ourselves and these critical ecosystems will pay off today -- and for future generations."

"We all share responsibility to preserve and protect the incredible natural landscapes we've inherited, and one way we can do that is through strong conservation efforts," said Burr. "That's why I'm proud to work with my colleagues on this bipartisan legislation, which will authorize this successful program for an additional five years so we can further protect tropical forests and coral reef ecosystems for future generations to enjoy."

"The reason why this bill has strong bipartisan support is because protecting tropical rainforests and coral reefs around the world is good for diplomacy and good for our planet," said Schatz. "Whether you care about international affairs, climate change, eco-tourism, or endangered species, this bill gets a lot of good things done."

"Our bipartisan legislation will invest in the stewardship of some of the planet's magnificent natural treasures so that future generations can come to know and enjoy them," said Whitehouse. "Healthy coral reefs provide essential habitat for fish and other species, protect coastal communities, and provide many other benefits to people and nature. The conservation of coral reefs and the tropical forests that absorb carbon dioxide is an important element of our fight against climate change."

"Conservation International commends Senators Portman, Udall, Burr, Schatz, and Whitehouse, as well as Representatives Chabot and Sherman, for reintroducing the Tropical Forest Conservation Reauthorization Act. The Tropical Forest Conservation Act (TFCA) is a highly successful program that has saved more than 67 million acres of tropical forest since the program was first enacted in 1998. This year's reauthorization significantly expands the TFCA to protect coral reef ecosystems, enabling the protection of some of the world's most biologically diverse areas. Moreover, the COVID-19 pandemic has underscored the critical importance of conserving tropical forests and other areas rich in biological diversity in stopping the spread of zoonotic diseases." said James Roth, SVP of Global Policy for Conservation International.

"The Tropical Forest and Coral Reef Conservation Act is a program with proven results, having protected millions of acres of forests while strengthening America's partnerships with developing nations," said Kerry Cesareo, senior vice president for forests at World Wildlife Fund (WWF). "In recent years, Congress reauthorized this innovative program with overwhelming support and expanded it to include coral reef ecosystems. We welcome this bipartisan effort to extend the program for another five years and to continue the vital work of promoting economic prosperity while protecting irreplaceable natural treasures."

"Senators Portman, Udall, Burr and Schatz along with Representatives Chabot and Sherman are applauded for their leadership in introducing legislation in the U.S. Senate and House of Representatives to renew the Tropical Forest and Coral Reef Conservation Reauthorization Act," said Kelly Keenan Aylward, Washington Director for the Wildlife Conservation Society. "This innovative financial policy referred to as "debt-for-nature' swaps will help protect intact forests, coral reefs and communities that rely upon these natural resources."

"We applaud Sens. Portman and Udall for their continued leadership on global conservation and proposal to reauthorize the Tropical Forest Conservation Act (TFCA). Conserving tropical forests and coral reefs is essential not just for nature and people, but also for reducing greenhouse gas emissions. This bill is a fiscally prudent investment in managing debt owed to the United States, furthering natural climate solutions that store carbon and reduce emissions in tropical forests in addition to conserving biodiversity in coral reef ecosystems. From Brazil to Indonesia, The Nature Conservancy has partnered with other leading organizations to treat more debt under the TFCA program by leveraging an additional $22.5 million to 12 of the 20 total agreements. This reauthorization legislation will allow us and others to continue this innovative approach that benefits economies and ecosystems across the planet," said Lynn Scarlett, chief external affairs officer for The Nature Conservancy.

"International Paper is pleased to support the Tropical Forest Conservation Act, legislation consistent with our commitment to support sustainable forests around the globe," said Sophie Beckham, Chief Sustainability Officer, International Paper.

NOTE: Portman first introduced the Tropical Forest Conservation Act (TFCA) in 1998 as a member of the House of Representatives. According to the Congressional Research Service, since 1998, $233.4 million has been used under the program to restructure loan agreements with 14 countries (20 transactions), and over $339 million will be generated for tropical forest conservation at the conclusion of these agreements. In January 2019, President Trump signed into law legislation introduced by Portman, Udall, Burr, Schatz, and Whitehouse to reauthorize the TFCA program for FY 2019 and FY 2020 and, for the first time, expand the program to include protection of coral reef ecosystems. Most recently, the FY 2020 spending bill provided $15 million for the program to carry out additional conservation agreements. This new legislation would reauthorize the program for an additional five years, for FY 2021 through FY 2025, at $20 million/ per year.