The world’s largest tropical wetland notched an important win today with new commitments that require sustainable development of the Pantanal, a 42-million-acre wetland that touches three countries. It ensures that all future development of this essential landscape is balanced with the needs of wildlife and people.

Bolivia, Brazil, and Paraguay signed the landmark declaration that calls for sustainable development of the Pantanal. The decision follows years of collaboration among the governments that are securing a prosperous future for one of the most biologically rich ecosystems on the planet. WWF has assisted this effort and applauds this landmark move.

The Pantanal is a surprisingly well-kept secret in comparison to the Amazon, despite its massive size and the more than 4,700 animal and plant species that live within it.

Millions of people living downstream rely on its crucial natural resources and benefits, including natural flood control, groundwater recharge, river flow for boats to navigate, and absorption of carbon. A study conducted by Brazil's Agricultural Research Corporation concluded that these natural benefits are valued at $112 billion a year.