Brazil launches new fund to protect tropical forests and fight deforestation

Brazil has unveiled a new plan to establish a Tropical Forest Forever Facility, a global fund that would pay countries to protect and preserve their tropical forests. The initiative aims to raise $250 billion by offering financial incentives for nations that keep deforestation rates low and maintain healthy ecosystems.

Source The New York Times

The proposal, introduced at a climate summit in Belém by President Luiz Inácio Lula da Silva, envisions forests as a valuable global asset and seeks to link biodiversity protection with sustainable financing. If successful, it could generate up to $10 billion a year in payments to countries that maintain their forest cover.

Critics warn that the fund faces significant challenges, including reliance on $25 billion in seed funding from governments and philanthropies and the risk of political turnover undermining long-term commitments. Still, environmental experts see Brazil’s initiative as a potentially groundbreaking approach to financing forest conservation and tackling climate change.