On August 11, 2014 at the GCF Annual Meeting in Acre, Brazil, fourteen GCF Governors from across the world launched the Rio Branco Declaration committing their states and provinces to reducing deforestation 80% by 2020 with performance-based funding from the international community. Through the Declaration, the Governors are pledging a substantial share of any pay-for-performance benefits that flow to GCF jurisdictions to forest-dependent communities, farmers, smallholders, and Indigenous Peoples. With additional GCF Governors committing to sign on in the coming weeks, they are calling on donor countries, the private sector and civil society to work in partnership with them to help preserve the world's remaining tropical forests, to enhance livelihoods across their regions, and to develop clear and transparent mechanisms for securing and delivering performance-based benefits to forest-dependent communities, farmers, smallholders, and Indigenous Peoples. According to a recent analysis by the Earth Innovation Institute
, if the GCF states and provinces reduce deforestation 80% by 2020, this will result in 3.8 billion tons of avoided CO2 emissions on top of the 3 billion tons of emissions already avoided by these jurisdictions.