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Brazil pledges $1B to new global fund aiming to protect tropical forests and halt deforestation by 2030.
Brazil’s President Luiz Inácio Lula da Silva announced a $1 billion pledge to the Tropical Forests Forever Facility (TFFF) at a UN event in New York, marking the first commitment to the fund.
The initiative, set for launch at COP30 in Belém, aims to create a $125 billion endowment to provide annual payments to countries for preserving tropical forests.
Backed by nations including China, the UK, France, Germany, Singapore, and the UAE, the fund seeks to leverage $25 billion in public funding to unlock $100 billion in private investment.
Lula called for global cooperation, emphasizing the need for inclusive governance and strong safeguards, while experts stress the importance of excluding destructive industries and integrating a comprehensive Forest Action Plan under the UNFCCC to halt deforestation by 2030.
Brasil promete $ 1 mil millones a un nuevo fondo global que tiene como objetivo proteger los bosques tropicales y detener la deforestación para 2030.