ESG & Investing
Brazil’s Lula Pledges $1 Billion for Global Fund to Save Tropical Forests
The president called on other countries to commit money ahead of COP30.
Luiz Inacio Lula da Silva, Brazil’s president, during the United Nations General Assembly in New York on Sept. 23.
Photographer: David Dee Delgado/BloombergBrazil will invest $1 billion in the Tropical Forests Forever Facility, President Luiz Inacio Lula da Silva announced Tuesday. The TFFF is a new multilateral fund proposed by Brazil to support the conservation of endangered forests worldwide and the country is the first to commit money to it.
By kicking off contributions, Lula hopes to spur other countries to follow suit ahead of the COP30 climate summit, which Brazil will host in November. The fund is expected to be a centerpiece of the global meeting and has an ambitious $125 billion target.