Brazil Secures Amazon Allies for $125 Billion Global Forest Fund
The country is moving ahead with plans for the fund ahead of hosting the COP30 climate summit in November.
Aerial view showing a boat speeding on the Jurua River in the municipality of Carauari, in the heart of the Brazilian Amazon.
Photographer: Florence Goisnard/AFPLess than three months before it hosts the United Nations’ COP30 climate summit, Brazil is accelerating its efforts to set up a $125 billion fund to finance forest conservation worldwide. On Friday, it won the formal backing of other Amazonian countries, after changes to the design of the fund were announced.
The initiative, known as the Tropical Forest Forever Facility (TFFF), aims to bankroll tropical forest protection through investment returns in high-yield, fixed-income assets. It seeks to secure long-term funding for as many as 74 developing countries to halt deforestation, beyond traditional grants and carbon credit programs, which have so far proved insufficient.