US EditionPay to protect: Brazil pitches new forest fund at COP30
- On November 6, Brazil launched the Tropical Forests Forever Facility seeking $125 billion to pay developing nations annually for preserving forest areas.
- The financing model relies on private investors such as pension and sovereign wealth funds, with $25b from sponsor governments and $10b from Brazil, aiming for $100b from private investors, with returns tied to deforestation below 0.5%.
- Norway announced a conditional pledge of up to 30 billion kroner over 10 years, Indonesia contributed $1 billion, France pledged a conditional 500 million euros, and Brazil has pledged $1 billion so far, with the United Kingdom supporting without public funds and Portugal announcing $1 million.
- The scheme could produce $4bn a year, with Brazil, Indonesia and the Democratic Republic of Congo as main beneficiaries and more than 70 developing countries eligible for payments.
- As Brazil prepares to host COP30 from November 10, Brazilian President Luiz Inácio Lula da Silva urged leaders to act beyond 'talking', with Joào Paulo de Resende calling it `This is the way forward` and Lula saying `Forests are worth more standing than cut down`.
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83 Articles
"Tropical forests forever – that's what Brazil's President Lula calls his new fund. Germany also wants to participate. Chancellor Merz explains this in his speech in Belém. Details remain unclear.
COP30 tropical forest fund may drive debt and deforestation, groups warn
A new global fund meant to reward tropical countries for protecting forests could instead drive deforestation and deepen debt in the developing world, civil society groups warn. The Tropical Forests Forever Facility (TFFF), launched Nov. 6 in Belém, Brazil, ahead of the U.N. Climate Change Conference, aims to raise $125 billion and promises to pay […]
President Lula da Silva presented the Tropical Forest Forever Fund (TFFF), which seeks to mobilize $125 billion in public and private capital to conserve forests in 73 countries
Brazil unveils $125bn tropical forest fund ahead of COP30 summit
Brazil will launch a new financing mechanism to reward countries for preserving tropical forests, seeking $125bn in public and private investment, the finance ministry said ahead of the COP30 climate summit in Belém.
Sao Paulo hosts business leaders as COP30 prepares to launch in Belem
SAO PAULO (Reuters) -As world leaders gather in Brazil for the COP30 climate talks, the business and finance leaders they are hoping will bankroll the fight against global warming are thousands of miles away on the other side of the country – by design. Read full story
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