Tropical Forests Forever: A Global Finance Shift at COP30

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.