Combatting Global Deforestation Act of 2024

The Combatting Global Deforestation Act of 2024 establishes a U.S. program to fund forest conservation and restoration projects in developing countries. Under this program, the U.S. provides financial assistance only after independent verification of results, such as reduced deforestation or increased forest cover, with partner countries required to meet transparency standards and include indigenous communities in planning. The program allocates $875 million annually for four years to support projects that protect forests and enhance ecosystem services, with strict requirements to avoid using funds for debts to certain countries identified as "countries of concern." The bill mandates annual reporting on project progress and environmental impacts to ensure accountability.