At a climate summit in Belem, Brazil, world leaders launched the Tropical Forests Forever Facility (TFFF) on Thursday. This new fund aims to protect tropical forests, with an unprecedented initial launch of over $5 billion in pledges to reward countries that keep their trees standing. 🌳🌎
Brazil, as the political sponsor, kicked things off with a $1 billion pledge, matched by Indonesia. Norway followed with 30 billion kroner in loans, France pledged €500 million, Portugal added $1 million, and Germany made an unspecified commitment.
Ultimately, the TFFF plans to grow into a $125 billion facility. Developing nations would earn payments for each hectare of forest conserved, while private investors would receive returns from emerging market bonds. The goal is to raise $10 billion in government contributions within a year—rising to $25 billion—and then attract $100 billion more in private investment.
“Things can change, this is a long-term project,” said Brazil’s chief climate negotiator, Mauricio Lyrio. Finance Minister Fernando Haddad added, “We have already surpassed 50 percent of what we envisioned” ahead of the next climate conference in 2026.
With more than 70 developing countries identified as eligible, the TFFF promises a steady, reliable revenue stream—offering an alternative to deforestation for short-term economic gains. 🌿✨
Reference(s):
World leaders launch fund to save forests, get first $5 billion
cgtn.com
