Indonesia and Brazil pledge $1 billion each to TFFF — The Independent
At the COP31 climate conference in Antalya, Turkey, participants confirmed commitments to the Tropical Forest Forever Facility, a fund for protecting tropical forests. Indonesia and Brazil, which have significant areas of tropical forests, pledged to contribute $1 billion each to it, The Independent reports.
Funding for forest protection
The TFFF provides for regular payments to countries with tropical forests for every hectare of forest preserved. The initiative was launched by President Luiz Inácio Lula da Silva at COP30 in Brazil last year.
The United Kingdom pledged £400 million to the fund, while the Netherlands pledged $500 million. Nearly another $100 million is expected to come from climate charities. Norway said it was ready to finance up to 20% of the fund’s initial $10 billion capitalisation target.
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UK Foreign Secretary Ed Miliband called the broad support for the TFFF a signal of strengthened global efforts to protect forests and finance climate and nature action. Hashim S. Djojohadikusumo, the Indonesian president’s special envoy for climate and energy, also positively assessed the contributions from developing countries.
Call to expand the circle of donors
Brazilian President Lula said that the idea that nature protection and development are incompatible belongs to the past. According to him, it is necessary to recognise the value of preserved forests and of the people who protect them. The article also notes that Brazil recorded the lowest level of Amazon deforestation in four decades last year.
Solomon Islands Prime Minister Matthew Wale called on larger economies, as well as BRICS countries and industrialising states, to more actively finance efforts to tackle the climate crisis. The Solomon Islands pledged about $400,000 to the $22 billion Green Climate Fund, becoming the first country classified as a small island developing state to make such a commitment.
