This bill establishes a federally-funded international conservation program to combat deforestation and protect forests in developing countries. The Secretary of State will create the Verified International Forest Ecosystem Services Conservation Program, which will provide grants to developing nations and local partners that meet measurable forest conservation goals, including reducing deforestation, restoring forests, and protecting wildlife habitats and indigenous lands. Countries receiving funding must agree to transparent reporting, independent verification of results, and cannot use the money to pay debts owed to countries of concern like China, Russia, or Iran. The bill authorizes $875 million annually for fiscal years 2024 through 2027 to establish a conservation fund, with an additional $10 million for technical assistance to help developing countries build capacity for forest management and create conservation credit markets. The program prioritizes protecting indigenous communities' rights and involving women and local stakeholders in project planning and benefits.
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