COP30: Could Brazil’s ‘Tropical Forest Forever’ Fund Help Tackle Climate Change?
Known as the “Amazon COP,” COP30 will feature the launch of Brazil’s major fund designed to reward tropical countries for preserving their forests.
Introduction of the Tropical Forest Forever Facility (TFFF)
The Tropical Forest Forever Facility (TFFF) is set to debut at the COP30 leaders’ summit on 6 November. The fund plans to raise and invest $125 billion from diverse sources. The excess returns generated will be directed to up to 74 developing countries that adequately protect their forests.
Significance and Ambitions
Brazil states this will become one of the largest multilateral investment funds dedicated to nature conservation. For comparison, the Green Climate Fund currently manages a portfolio of about $18 billion.
Brazil expects TFFF to “transform the world’s approach to environmental conservation”.
Criticism and Concerns
Despite its promise, many critics question the fund’s reliance on “betting on stock market prices” as a mechanism for conservation funding. They advocate for introducing new financing methods specifically for biodiversity protection instead.
Origins and Framework
First officially proposed by Brazil at COP28 in Dubai in 2023, the TFFF targets financial incentives for up to 74 developing tropical forest countries to maintain their existing old-growth forests.
The Tropical Forest Forever Facility aims to pay countries for keeping their existing old-growth forests intact.
This initiative marks an ambitious effort to channel large-scale investment toward tropical forest conservation.
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