Tropical Forests Forever: A Global Finance Shift at COP30

The Tropical Forests Forever Facility, launched at COP30 in Brazil, aims to protect tropical forests by shifting financial incentives towards conservation. Endorsed by 53 countries, it involves performance-based payments and investments in sustainable assets, with significant funds reaching Indigenous and local communities.

World leaders at the COP30 Leaders' Summit in Belém, Brazil, have unveiled the Tropical Forests Forever Facility (TFFF), a groundbreaking global initiative. The TFFF aims to direct substantial financial resources towards conserving tropical forests and has already received endorsements from 53 nations.

The initiative, championed by Brazil, introduces a performance-based payment system intended to reward countries that effectively maintain their forest cover. By blending public, private, and sovereign funds, it seeks to change financial motivations to support conservation efforts.

A noteworthy feature of the TFFF is its commitment to channeling at least 20% of funding to Indigenous peoples and local communities, addressing historical inequities in conservation financing. The move signifies a pivotal moment in environmental finance, as noted by Brazilian President Lula da Silva.

(With inputs from agencies.)