Brazil Has a $125 Billion Plan to Make COP30 a Rare Climate Success
The host of the next UN climate summit is launching a massive investment fund for forestry as part of a grand vision for future multilateral action on global warming.
A boat near the riverside community of Saraca, Para state, Brazil.
Photographer: Jonne Roriz/BloombergBrazil plans to launch an ambitious $125 billion fund to protect tropical forests when it hosts the COP30 climate summit this November. The investment vehicle is part of a broad strategy to turn the talks into action after a US withdrawal from climate diplomacy threatens to slow progress.
Discussions are advanced and some countries have already expressed interest in joining the list of anchor contributors, including Germany, France, United Arab Emirates and Singapore, according to Rafael Dubeux, executive-secretary at Brazil’s finance ministry. The new fund should be ready to receive contributions by the time the summit starts in the city of Belém, Dubeux said.