Brazil’s tropical forest fund races to raise $2.7 billion before deadline

The Tropical Forests Forever Facility (TFFF), established at the recent UN Climate Change Conference, has gathered approximately $7.3 billion in initial sponsor capital. This fund aims to compensate nations with tropical forests for preserving their forest areas. However, despite recent commitments, the fund is still $2.7 billion short of its $10 billion fundraising target by the end of 2026.

Following the conference in Belém, the TFFF received strong political backing, with more than 60 countries supporting its launch and five nations pledging investments. Since then, financial commitments have slowed, with only Luxembourg and the UK making government pledges, which amount to around $600 million. The nonprofit The Nature Conservancy has pledged an additional $5 million.

Now, the fund has less than four months to raise the remaining $2.7 billion to meet its goal. Notably, Norway's $3 billion pledge, part of the $10 billion total, will only be released once the target is achieved. Carlos Rittl, the director of public policy at the Wildlife Conservation Society and a contributor to TFFF's design, expressed optimism about reaching the $10 billion benchmark but emphasized the need for clear rules to encourage countries to sign checks.

Both UN Secretary-General António Guterres and Brazilian President Luiz Inácio Lula da Silva attended the TFFF's launch.