Brazil’s Lula announces $1 billion investment in global forest fund

Brazil has pledged $1 billion to kick-start a new global fund designed to protect tropical rainforests, marking the first official contribution to the initiative. The announcement was made by President Luiz Inácio Lula da Silva during a high-level event at the UN General Assembly in New Yor.

The fund, known as the Tropical Forest Forever Facility (TFFF), will be formally launched at COP30 in Belém this November. It aims to mobilise long-term financing for rainforest protection by generating investment returns in financial markets. Organisers are targeting $25 billion from donor governments and as much as $100 billion from private investors, including pension funds, banks and asset managers.

“Brazil will lead by example and become the first country to commit an investment in the fund with $1 billion,” President Lula said. “I invite all partners in attendance to make equally ambitious contributions so that the TFFF becomes operational at COP30.”

Other countries, including Germany, Norway, the United Kingdom and the United Arab Emirates, have expressed support for the facility and taken part in shaping its design.

The initiative underlines Brazil’s intention to take a leadership role in climate negotiations and in safeguarding the Amazon and other tropical forests.

via Reuters