Announcement by President Lula at UN Event Marks the First Contribution to the Fund, Set to Launch Officially at COP30 in Belém
New York, USA – Brazil has become the first country to announce a financial commitment to the Tropical Forest Forever Facility (TFFF), a groundbreaking mechanism designed to deliver permanent, large-scale, performance-based payments to tropical countries that conserve their forests. The TFFF is one of the flagship outcomes of COP30, to be held in Belém.
At a United Nations event in New York this Tuesday (September 23), President Luiz Inácio Lula da Silva announced that Brazil will invest US$1 billion in the sovereign tranche of the fund. Brazil’s contribution is conditional upon the participation of other countries, as the TFFF aims to raise US$25 billion from sovereign donors to leverage an additional US$100 billion from private sector investors. Opening the event, President Lula shared with the room this groundbreaking commitment:
“TFFF is an unprecedented tool in this fight against climate change, more than being a mechanism to protect a specific biome, TFFF is a mechanism aimed at preserving life on Earth. Tropical forests provide essential ecosystem services for regulating the climate, are home to the world’s largest freshwater reserves, store oxygen, and absorb carbon dioxide; their degradation would compromise the global climate balance in an irreversible manner. So today, Brazil is going to lead by example to be the first country to commit US$1 billion to the TFFF.”
Concluding his remarks after making a landmark commitment to the TFFF, President Lula reminded delegates, “Tropical forests are critical to keeping alive the purpose of limiting global warming to 1.5 degrees. The TFFF is not a charity; it’s an investment in humanity and the planet to counter the threat of climate chaos.”
Once operational, the TFFF is expected to mobilize approximately US$4 billion annually, to be distributed among forest countries that are effectively conserving their tropical forests. More than 70 developing countries, which collectively cover approximately 1 billion hectares of tropical and subtropical moist forests, are potentially eligible to receive payments from the Facility.
Tuesday’s event, titled ‘Solution Dialogues: Tropical Forest Forever Facility (TFFF)’, brought together heads of state, as well as ministers and representatives from around the world, multilateral organizations, civil society, and the private sector. During the event, Ajay Banga, President of the World Bank, also stated, “At the request of partner countries, we will serve as trustee and interim host of the secretariat. We will provide the administrative backbone, the treasury, fiduciary controls, and transparency reports so the Fund can move predictably and confidently forward.” Noting that the TFFF was “a Practical, implementable instrument. A mechanism that reflects President Lula’s vision and persistence.”
Words of support were given by His Excellency, Mohamed Irfaan Ali, President of the Co-operative Republic of Guyana, who called on leaders gathered “to give President Lula your personal commitment that you will stay engaged and ensure this agenda does not recede within the government structure…Guayana applauds your leadership in advancing the TFFF as a vital addition to the menu of options for forest finance. We will support you 100% in your efforts. We stand ready to help you in any way we can so that by COP30 we can show the world that ambition is finally matched by finance.”
Andreas Bjelland Eriksen, Minister for Climate and the Environment for Norway, also shared his support, “Let me thank President Lula and the Brazilian government for your leadership in taking the important initiative to create the TFFF and applaud you for making a sizeable financial pledge today and for challenging developed and emerging economies to respond’ then he added, TFFF could deliver a must needed boost for multilateralism and countries coming together to solve big challenges. Let’s use the time remaining until we meet on the Amazon to deliver that boost together, all of us.”
This sentiment was echoed by Mr. Jochen Flasbarth, State Secretary at the Federal Ministry for the Environment, Climate Action, Nature Conservation and Nuclear Safety, Germany, who said in his intervention, “I want to applaud your message. To be very clear, this is the leadership we need here at the HQ of the UN. Thank you for that. From the first second I heard about the TFFF, I said this is groundbreaking because it fills a financial gap and a gap of fairness. For us, it is essential that President Ajay Banga is by your side… It is a very clear message to our public banks. It sends a message of credibility that is needed to make the deal done in Belem. We will be there and we will applaud you.”
Mr. Max Andonirina Fontaine, Minister of Environment and Sustainable Development, Madagascar, went on to state, “The TFFF is a true game-changer. For the first time, a global mechanism declares that protecting a forest is not a burden but a value. For the first time, our nations are recognised as guardians of a common good essential to life on earth. We salute Brazil’s leadership in being the first country to announce its contribution, and the 1 billion pledge is both impressive and a clear call for others to follow.”
Brazil now looks forward to COP30, where it will formally launch the Tropical Forest Forever Facility at the first-ever UNFCCC COP to take place in the Amazon rainforest.
The full proceedings can be watched here.
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Notes To Editors:
The following countries were present and made remarks at the ‘Solution Dialogues: Tropical Forest Forever Facility (TFFF):
Angola
Brazil
Cambodia
China
Colombia
Denmark
Ecuador
Emirates
Equatorial Guinea
European Union
France
Germany
Ghana
Guyana
Honduras
Indonesia
Ireland
Madagascar
Malaysia
Mexico
Nigeria
Norway
Republic of the Congo
United Arab
United Kingdom
About The Tropical Forest Forever Facility
The Tropical Forest Forever Facility (TFFF) is where conservation meets capital creation. It is a once-in-a-generation facility set to launch at COP30 that secures the future of tropical forests and guarantees returns for investors. This novel global funding mechanism is designed to finance the permanent conservation of tropical and subtropical broadleaf moist rainforests by directly paying countries and forest stewards to reward those who are already maintaining or increasing their forest cover.
Using blended finance, the TFFF will combine sovereign capital with private investment to create a USD 125 billion fund that generates annual payments based on Tropical Forest Countries’ performance, keeping tropical forests standing. This will position tropical forests as a globally valued asset class.
Payments are verified, and at least 20% of the funds will go to Indigenous Peoples and Local Communities who are on the frontlines of forest protection. TFFF aims to value and reward the vital ecosystem services that standing tropical forests provide to the entire planet, making conservation a sustainable economic pathway for forest countries. Find out more at tfff.earth.
Media Contact:
For further information or interview requests, please contact the Tropical Forest Forever Facility Media Office press@tfff.earth
